EOS price analysis and forecast (July 13th): EOS price struggled to rebound; narrow-range is likely

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A fluctuation between $6.5656 and $7.2624 is likely to occur with EOS price

EOS price, EOS price analysis, EOS price forecast, USD, cryptocurrency, major cryptocurrencies, top 10 cryptocurrenciesEOSUSD D1 13072018

According to chart D1, the EOS recently has closed below a solid support line of $7.2624; however, the latest bearish candlestick has a quite short wick, indicating that the selling force was not that strong, thus a downtrend could not be confirmed. Besides, it is possible for the double bottom pattern to be shaped within the EOS price chart; as the first bottom had moved near the lower band of the Bollinger bands and then surged near the middle band before a retracement to the lower band. Besides, currently, the cryptocurrency price is still closed above the lower band, which means the sellers have failed to drag the cryptocurrency price lower and will soon give up on this market. Therefore, we can expect a long-term rally, when the buyers can take control of the market and push the EOS price up.

EOS price, EOS price analysis, EOS price forecast, USD, cryptocurrency, major cryptocurrencies, top 10 cryptocurrencies EOSUSD H4 13072018

In chart H4, we can easily find out that the bear continues to put pressure over the market with the chain of bearish trends (as marked in the purple trend lines). However, we can also recognize that the bear strength is becoming weaker and is slowly fading away with the emergence of a shorter and less steep downward trend line. We anticipate that the cryptocurrency price will experience a narrow-range period as has happened in the past. Besides, the recent candlesticks are still closed below the key level of $7.2624 and cannot cross above this level; therefore a price fluctuation between $6.5656 and $7.2624 is likely to occur.

Written by nami.today

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