Price Analysis of EOS/USD and XLM/USD
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Price Analysis of EOS/USD and XLM/USD

January 21, 2020      Cryptoknowmics

The price of EOS moved to the downside from $4.0623 on January 17. However, it was able to secure support at the 200-day SMA at $3.42 two days later. It shows the bulls’ buying activities on dips. At the moment, the buyers are trying to return to the upside.

A successful improvement of the current bounce could facilitate a new effort to take the price over $4.24. Hence, the price is going to move to $4.8710 following the attainment of $4.24.

Contrariwise, the fizzling out of the attempt for a rebound could lead the pair to the 200-day SMA again. The price could decline to $3 beneath this level.

As for XLM, its performance has secured a position for it in the top ten list. Within the previous two days, the buyers could not take the price over the 200-day SMA. Nevertheless, the pair is still standing, showing that buyers are buying on dips.

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The ability of the buyers to take the price over the 200-day SMA offers the possibility of XLM against the USD pair to experience further upsurge to $0.088708.

The failure to take the price to a level over the 200-day SMA would prompt the sellers to try to take the price to the 20-day EMA, and could become a powerful support. A move beneath $0.051014 will take the pair to the downside.

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