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Price Analysis of EOS: The coin resumes its stay with the bears

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The native token of EOSIO network- EOS coin, ranks in the 7th position according to the stats of Coinmarketcap. The price of EOS at the press time was $3.650 and its market cap was around $3.4 billion. A major chunk of EOS was coming from BKEX, contributing to a total of $269 million via the EOS / USDT trade pair.

1 Hour Day

Source: EOS / USD TradingView

The one hour chart shows a downtrend extending from $3.5521 to $3.4148 and an uptrend extending from $2.8168 to $3.2066. The resistance stood at $3.3905 and the support was held at $3.2225.

The Bollinger Bands had just begun to diverge reducing the volatility of the coins.

Chaikin Money Flow: The CMF line was slightly below the zero line slowly pushing the coin to the bearish market.

The MACD line was traveling below the signal line indicating that the coin was experiencing a bearish trend.

1 Day Chart

Source: EOS / USD TradingView

The one day chart exhibits a downtrend extending from $7.5979 to $3.7083. The resistance was at $4.2551 and the support was held at $3.0893.

Parabolic SAR: The dotted line was going up indicating the presence of the coin in the bearish market.

Relative Strength Index: The RSI line was well above the 50-line and was on its way to the 70-line hinting that the buyers were quite active and gaining strength pushing the coin to the bullish market.

The Awesome Oscillator showed that the green bars were slowly trying to enter the bullish market.

Conclusion

The Parabolic SAR in the long term chart; and the MACD and CMF in the short term charts concluded that the coin was under a bearish sentiment.

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