EOSUSD runs into sellers around 5.53 for the third day in a row
EOS/USD Index (EOSUSD) Technical Analysis Report for Sep 15, 2018
EOSUSD finished Saturday at 5.40 gaining $0.16 (3.05%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Saturday's trading range was $0.32 (6.12%), that's below last trading month's daily average range of $0.49. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 5.65. The market ran into sellers again today around 5.53 for the third trading day in a row after having found sellers at 5.54 in the previous session and at 5.55 two days ago.
While EOS is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
Buying might speed up should prices move above the close-by swing high at 5.55 where further buy stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for EOS/USD Index
Top Market Movers
Related Crypto Currencies