The Analysis of EOS/USD and XMR/USD
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The Analysis of EOS/USD and XMR/USD

January 9, 2020      Cryptoknowmics

The price of EOS surged past the overhead hurdle at $2.8695, reaching somewhere near the downtrend line today. Nevertheless, it failed to surge past the downtrend line and turned back from just under it.

The ability of the EOS/USD pair to secure support at the 20-day EMA could prompt the buyers to try to break out of the downtrend line once again. The occurrence of such break out will lead to a rally towards $3.50 and over it to $4.24.

Contrariwise, the failure of the buyers to maintain the price over $2.5804 could prompt a decline to $2.4001.

As for XMR against the USD pair, there was a sharp rally that led its price over the overhead hurdle at $57.1199. Nevertheless, the buyers may be able to maintain the level, signaling aggressive selling by the sellers at higher levels.

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The price may now decline to the 20-day EMA. The ability of the buyers to hold the level could strengthen them to try to scale and maintain a level over $57.11. Traders should focus on the price action near the 20-day EMA prior to trade suggestions.

The bullish perspective will not hold following the sinking of the pair under the 20-day EMA. If the decline holds, the price could be dragged back to $44.50.

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