In the short-term trend, EOS seems to have been engulfed by the bears while the long-term charts show the token making a safe getaway from the attack. The long-term now shows an imminent bull run. At the time of press, EOS was at $5.36, with a market cap of $4.8 billion.
EOS, the fifth-largest cryptocurrency in the market, has seen a 1.61% fall in the 24-hour chart in the ongoing bear market. Like all the coins in recent times, EOS has been showing the bearish downtrend.
The trend lines indicate a downward trend and have been in the downtrend direction for quite a while. The longtime support for EOS is at $5.39, while the resistance is at $5.64.
The Bollinger Bands seem to be on the verge of convergence, indicating an almost immobile market. The candles are moving away from the upper Bollinger band and towards the center.
The MACD histogram looks flat due to an even sell and buy pressure and MACD line has started to cross over the signal line towards the bottom, indicating a bearish move of the market.
The Awesome Oscillator points out that the market momentum has slowed down because the red spikes are starting to diminish.
Similar to the 1-hour chart, the trendlines in the 1-day chart are in a downward trend, indicating that the bear has control over the market. The downward trend seems to be persistent since June and the price is in the range of $14.84 to $4.5. Resistance levels for the same can be found in the range of $6.19 to $7.06.
The Relative Strength Index [RSI] line for EOS seems to be at the center indicating that the selling and the buying pressure are canceling each other out.
The Parabolic SAR is showing a bullish trend since the dots are aligning below the candles.
The Relative Vigor Index [RVGI] indicates a bullish trend as seen by the crossover.
The 1-hour chart as discussed earlier seems to show all the signs of a bearish downtrend, as indicated by the MACD and the Bollinger bands. The 1-day chart, as indicated by the RSI, seems to be held at the center while the RVGI seems to present a bullish crossover.
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Bitcoin SV’s roller coaster price market, R3’s new partnership and more
Crypto News – 22 May – BSV’s roller coaster price market, R3’s new partnership and more
— AMBCrypto (@CryptoAmb) May 22, 2019
Crypto News – 22 May
Ethereum Foundation’s latest update: Ethereum Foundation released a blogpost, highlighting its allocation of funds for the present and future development of the Ethereum network
Read more at https://bit.ly/2wcDJp9
Israel court makes landmark ruling: An Israeli court classified the world’s largest cryptocurrency as an asset, and not as a currency
Read more at https://bit.ly/2JTrJAW
New chapter for Ripple: Ripple’s Pat Thelen was elected onto the U.S Faster Payments Council’s Board of Directors
Read more at https://bit.ly/2YJCr1b
Craig Wright gets attacked, again: The latest crypto-proponent to attack Wright was Monero’s Ricardo Spagni, who called Wright ‘so dumb,’ and attacked his legal credentials
Read more at https://bit.ly/2EBvtnx
CryptoCompare exchange review: Bitcoin [BTC] to USDT market share fell for the first time in 6 months post-Bitfinex fiasco, the report found
Read more at https://bit.ly/2WZfnuX
Ron Paul on crypto-ban: Former Congressman Ron Paul is in the news after he claimed that Bitcoin [BTC] and crypto-ban was highly unlikely as US Dollar will self-destruct
Read more at https://bit.ly/2WrgjLL
Bitfinex launches Tokinex: Bitfinex announced its collaboration with a hybrid Ethereum-based trading platform, Ethfinex, to launch an Initial Exchange Offering [IEO] platform, Tokinex
Read more at https://bit.ly/2HJ27UH
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