EOS Price Analysis: 14 November

[sneakyboi]

EOS Price Analysis: 14 November

EOS seemed to have exhausted its recent bullish outlook


Source: EOS/USDT on TradingView

On the longer timeframe, EOS has been on a downtrend. Since posting a high of $3.9 in mid-August, EOS has been setting a series of lower highs.

The Fibonacci Retracement tool was used for EOS’s move down from $2.75 to $2.22 almost two weeks ago. Important levels of retracement upwards for the coin were then highlighted.

At the time of writing, it appeared that EOS was rejected at $2.64, the 78.6% retracement level, before heading lower to $2.55. If the said level is breached, $2.49 will be another important level of support.

The MACD showed strong bullish momentum due to a strong surge of nearly 8%, but the retracement move may be at an end after rejection at the 78.6% level, with resistance at $2.59 also present.

Learn more about the analysis here.