EOS price targets in September 2023?
EOS price prediction indicates that the EOS cryptocurrency may see a further decline in its value over the next few weeks. Currently, EOS price has fallen by 5.98% over the past seven days. According to the price action, it is facing downward pressure.
Right now, the bears are in charge of the trend as they maintain firm control over the price action while the bulls try to take control. Despite the bullish optimism, buyers were unable to break above the 50-day EMA, and bears regained dominance of the price action on the 1-day chart.
The EOS cryptocurrency is trading below the major exponential moving averages within reach of the bears. The price is facing resistance from the 50 EMA currently on the daily time frame. The price is facing significant selling pressure in the supply zone which indicates that bears may push its value lower in the near future.
Technical indicators indicate that bearish action is dominating the price action. Price pattern, oscillators, exponential moving averages, and trading volume move side by side, giving similar signals.
At the time of writing, EOS is trading at $0.5558 with an intraday gain of 1.68%. Furthermore, the 24-hour trading volume is $251,178K, and the average trading volume in the last 10 days is $181,454K.
Technical analysis of EOS crypto price in a one-dimensional time frame
At press time, the EOS cryptocurrency is trading above its 50- and 200-day simple moving averages, which support the price trend.
However, if selling volume increases, the price may overcome the supporting simple moving averages (SMA) by making lower highs and lower lows. Hence, EOS price is expected to move lower giving bearish views on the daily time frame chart.
The current value of the Relative Strength Index is 36.32 points. The 14 SMA is located above the midline at 36.32 points indicating that the EOS cryptocurrency is bearish.
The MACD line at -0.0229 and the signal line at -0.0232 are located above the zero line. A bearish crossover has been observed in the MACD indicator indicating further downside for the EOS crypto price.
summary
EOS technical oscillators also support the downtrend. The MACD, RSI and EMA indicators confirm the negative signals and indicate that the downward trend may continue in the EOS crypto price. EOS price action indicates that investors and traders are bearish on the 1D time frame. The price action reflects a bearish view at the moment. The current scenario requires traders and investors to be patient and look for a clear breakout below or above the range before making any moves and avoid the fear of missing out on the opportunity to minimize losses.
Technical levels
- Support levels: $0.4785 and $0.3686
- Resistance levels: $0.6172 and $0.7271
Disclaimer
This article is for informational purposes only and does not provide any financial, investment or other advice. The author or any of the people mentioned in this article are not responsible for any financial loss that may occur from investing or trading. Please do your own research before making any financial decisions
