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

January 23, 2020      Prashant Jha

EOS does not have sufficient strength to run off the 200-day SMA. The failure of the asset to surge to the upside quickly will prompt the sellers’ effort to return the price beneath the moving averages. Such a move could bring on a decline to $3.

The direction of the 20-day EMA and RSI in positive territory shows that buyers are in control. The ability of the present rebound to attain momentum could make the buyers take the price to $4.24. If the price breaks out of this barrier, it may lead to $4.8719, which could become a stiff barrier once again.

As for XLM, the buyers could not take its price over the 200-day SMA within the previous five days. It shows the sellers’ aggressive defence of this barrier. If the price does not surge over the barrier, there is a likelihood of attracting profit booking from the short-term traders. If such occurs, there could be a decline to the 20-day EMA.

The direction of the 20-day EMA and the RSI in the positive zone, suggests the bulls’ control. Hence, the buyers’ aggressive defence of the 20-day EMA is likely.

A successful push of the price over the 200-day SMA in the coming few days could bring about a move to $0.088708.

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Prashant Jha
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.