EOS Price Analysis – March 10
EOS has not been able to fetch any significant growth over the last 24 hours, and the loss percentage in this period stands at 3.29%.
Resistance levels: $4.9 $5.1 $5.3
Support levels: $3.4, $3.2, $3.0
EOS/USD bulls could not sustain the price above the $4.2 resistance level because of bearish pressure. A few days ago, the bulls had a field day as they took the price from consolidation to breaking one resistance level after the other, still trading above the 9-day and 21-day moving averages.
Where is EOS Price Going Next?
EOS/USD is consolidating below the upper boundary of the channel around $4.0. The market may go up if it bounces above the channel to face the resistance levels of $4.9, $5.1, and $5.3. In other words, EOS/USD may sink if the bears break below the lower boundary of the channel and the price falls to the next support levels of $3.4, $3.2, and $3.0. Meanwhile, the technical indicator RSI (14) is moving below 55-level which means that the coin may follow a bearish momentum.
EOS/BTC Market: Consolidating to the Downside
Today, EOS/BTC crosses below the 9-day and 21-day moving averages with a strong bearish candle and has since been trading below the moving averages. More so, as the RSI (14) moves below 40-level, the coin is seen following the downtrend; 600 SAT and 550 SAT support levels are in view.
However, a bullish movement above the channel could push the EOS price to the resistance level of 850 SAT and above. Moreover, breaking the mentioned resistance levels may push the price to the new high of the month which may likely send the coin into a bullish zone. Nevertheless, the trading volume also confirms the bearish movement.