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EOS: Price Analysis, Nov. 19

EOS/USD

After struggling to stay above $4.493, EOS plunged below the support and also broke below the next level of $4.1778. The final support is at $3.8723, below which the digital currency will form a new year-to-date low.




EOS/USD




The 20-day EMA is sloping down and the RSI is in the oversold territory, which shows that the balance is tilted in favor of sellers. Below $3.8723, the next support is at $3. The EOS/USD pair will show its first signs of strength if it breaks out of the moving averages and the downtrend line. We suggest traders wait for the decline to end and a new buy setup to form before initiating any new long positions.

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