EOS Price: $4.85 Key EOS resistance levels: $5.5, $6 Key EOS support levels: $4.4, $3.7

*Price at the time of writing

EOS price long-term trend: Bullish

EOS is bullish and it is clearly obvious that the important 50-day simple moving average has been a supporting line against a sudden price drop. The bulls have been in play since last December after retracing on the white-dotted rising line in February.

Buy/Sell EOS (EOS)

How to buy EOS (EOS) on Binance

The positive move has been supported and accompanied along with the rising line. Upon that, EOS has attempted to breach lower today after sitting on the 50 SMA for over two weeks. If the supply force outweighs the demand, the EOS price may drop significantly to the $4.4 and $3.7 levels, supported by the 200 SMA.

In the opposite direction, the EOS market may rebound to the $5.5 and $6 price levels. Surpassing these levels may potentially launch the EOS market to fresh highs. From a technical standpoint, the bearish RSI seems to be diverging, currently lying near the 40 range. The actual play will be revealed in the next few days.

EOS price medium-term trend: Bearish

After climbing above the 50 SMA and the 200 SMA in late March, EOS bulls drove the price to $6 before losing the market to the bears, which drove a drop to $4.6. Up till this moment, the March surge has apparently subjected the market in a downtrend as the bears' position holds below the simple moving averages.

If the demand heavily increases, the buyers may take profit at the $5.2 and $5.4 levels. In no time, we may see the price floating at the $6 level. Looking at this trade, the sellers appear to be gaining control of the market, suggesting that the market can fall further.

However, EOS can find support at the $4.6 and $4.2 levels. The bearish RSI is still aiming at a retest on the oversold range. If the bearish RSI reaches the extreme oversold area, we can expect the above supports to be tested speedily. All in all, the EOS market is confirmed in a bearish scenario.

EOS price short-term trend: Bearish

The climb on April 29 was the catalyst for EOS reaching all the way to the $5.44 level, flagging a fresh price for the month of May. Soon after, EOS started to drop on a swing and maneuvered below the 50 SMA and the 200 SMA. This breakout scenario was significant in the last twenty-four hours of trading. A downtrend was confirmed on the 4-hour chart.

Earlier today, the EOS market visited $5 on a retracement move. Nevertheless, the $5.1 level is still open for a buy retest. As it stands now, it appears that the buyers are satisfied with the $5 level.

Following the bearish RSI since May 2, we can see that EOS has been obeying the falling trend-line which currently levels at 50. Should price breach the trend-line, we can expect an uptrend.