Musiccosmos

Last week, the EOSUSD was bearish, there is currently some form of consolidation in the market, which denotes a “pause” before the market resumes its movement. EOS is a bear market. The current bearishness has a high probability of continuation – a characteristics of a persistent trending market. Long positions would not be rational until it is clear there is a change in the outlook on the market. EOSUSD Long-term Trend: Bearish Resistance levels: $6, $7, $8 Support levels: $3, $2, $1 EOSUSD bearish trend extended further to the south in the daily chart, and broke the last week support level at $5. The pair is approaching another support level of $4. The current price action shows the possibility of price going further downwards, aiming at the support level of $3. The Stochastic Oscillator Period 14 is below the level 10 and still points to the downside, which indicates that the market is oversold. There may be a bullish effort along the way, but it is going to be temporary. ...