Ethereum has turned to the bearish zone after touching $516 USD.
EOS continues to correct itself and eyes the 9.00 line against the US Dollar.
Ethereum (ETH/USD)
Price Analysis
- High: $480.59 USD
- Low: $470.10 USD
- Major Resistance Level: $520
- Hourly MACD: In the grey area (between Buy and Sell zone)
The ETH/USD pair had been sporting green candles and moving in the upward direction from 13th July 2018, as can be observed from the chart. However, yesterday the price of Ethereum had started a decline after reaching the $516 line. The candle formed yesterday thus sports the red color.
Today, so far, even though the ETH/USD pair has formed a small green candle the hourly MACD, as per Trading View, is placed in the grey region currently. It is thus difficult to say whether the crypto coin will move into the Buy or Sell region but, as the candle formed so far is in green. So, currently, there may be a slightly higher chance of moving into the Buy zone. Also, before yesterday, Ethereum trying to build an uptrend shows that the coin is trying to hold back its place today.
At the time of writing, the ETH/USD pair is trading at $477.97 USD with the moving average marking at 458.3389 (as of 19th July 2018). Yesterday, the ETH transaction fees had become higher than that of BTC. So, the price of ETH/USD had seen a downward slide. On the other hand, new partnerships had formed at the Ethereum Enterprise Alliance. This may be the cause behind the slight upward surge today. ETH at the moment is trying to reach the major resistance level at $490 USD.
EOS (EOS/USD)
Price Analysis
- High: $8.6575 USD
- Low: $8.3600 USD
- Major Resistance Level: $9
- Hourly MACD: Placed slightly in the Sell region.
The EOS/USD had been set on correcting itself for the past few days. The crypto coin had been showing an uptrend from 14th July 2018. The trend continued till 17th July 2018 and then sported a red candle yesterday. As the price of the EOS/USD pair reached the $8.5 zone, the price had been trying to strengthen the trend. With slight pressure from the Sell region the candle had showed a short-term downtrend.
Today, so far EOS (EOS) has been indicating an uptrend but, the hourly MACD is placed slightly in the Sell region. At the time of writing, the EOS price shows $8.6319 USD while the moving average (blue line) marks 7.7127. (As of 19th July 2018) This clearly shows that the crypto coin is trying to strengthen the trend and reach the $9 major resistance level. Currently, the overall cryptocurrency market has been showing a positive. The rise in the price of the EOS/USD pair is mostly the result of that. Otherwise, one can see from the chart an overall downtrend since the end of April 2018.
All in all, both the ETH/USD and EOS/USD pair are correcting themselves today. At the moment, it is to be seen whether Ethereum and EOS can reach the major resistance and how far they go in the short-term.
Happy Trading~
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Charts courtesy of tradingview.com
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