Price Analysis of XLM and EOS
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Price Analysis of XLM and EOS

January 7, 2020      Cryptoknowmics

The price of EOS is near the overhead hurdle at $2.8695. The moving averages are close to completing a bullish crossover and the RSI is within the positive zone. This is a positive signal showing that buyers are in control.

A successful surge over $2.8695 could initiate a rally to the downtrend line. However, it is likely that the sellers will take a stand at the downtrend line, due to the turning down of the price from it many times within the previous few months. Nevertheless, a successful surge over the downtrend line could initiate a move to $3.50.

As for XLM, its price was able to surpass the initial overhead hurdle at $0.047799. A successful close over this level will lead to more upside moves.

The 20-day EMA is flat and the RSI is now in the positive zone, suggesting that the sellers are losing control.

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The ability of the price to keep moving to the upside and surpassing $0.051014 could initiate a rally to $0.06 and a continuous surge could lead to $0.088. On the other hand, the failure to maintain a level over $0.047799 could keep the XLM/USD pair in a range for some days. The movement will become negative following a break under $0.042133.

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