#Educational Exponential moving average (EMA)

EMA is another form of moving average. Unlike the SMA, it places a greater weight on recent data points, making data more responsive to new information. When used with other indicators, EMAs can help traders confirm significant market moves and gauge their legitimacy.

The most popular exponential moving averages are 12- and 26-day EMAs for short-term averages, whereas the 50- and 200-day EMAs are used as long-term trend indicators.

#Binance #BTC #EMA #crypto2023 #leontech

#crypto2023

1 EOS shows a bullish marubozu candle, gaining by 10% intraday.

2 Bulls demonstrated their strength and regained their momentum.

#EOS token price rebounded from its demand zone of $0.600 and is escaping above the 20-day EMA near $0.750. In the support range, a double-bottom pattern was noted, and the pattern neckline was broken in the last session, and buyers gained traction above it.

Moreover, the price movement indicates a strong momentum in the token’s trajectory, as it approaches a key level of $0.800, coinciding with the placement of the 50-day EMA mark. However, the sellers were trapped and were covering their positions, resulting in massive bullishness.

The price action shows that the token was in a downtrend, showed a pullback near the substantial support range, and defended the zone near $0.600.

However, the token stayed in a congestion zone, but above the mark of $0.8000, bulls will gain momentum. Similarly, on the downside, a further fall can be anticipated below the mark of $0.550.

At the time of writing, the EOS token price is trading at $0.7559 with an intraday gain of 9.96% showing massive bullishness on the charts. Moreover, the intraday trading volume noted an increase of 27.20% at $263.85 million. Furthermore, the pair of EOS/BTC is at 0.0000243 #BTC , and the market cap is $743.70 million.

Daily Charts Shows EOS trying to escape trendline

On the daily charts, EOS token price forms a bullish marubozu candle and is near the trendline, which marks a make-or-break moment for the token. If it faces resistance, then selling will rise again and retest the support range near the 20-day EMA.

Alternatively, in the event that follow-on buying surpasses the trendline above $0.8000, a substantial upward momentum may ensue, propelling the token towards the next significant obstacle at the 100-day #EMA level around $0.880.

Short-term Charts Show Bullish Movement

On the 4-hour charts, EOS token showed a massive bullish movement, increasing the gains above the crucial hurdle of $0.7000 and stabilizing above the 20-day EMA. Furthermore, the technical parameters suggest that further buying will be seen in the upcoming sessions.

The Relative strength index (RSI) curve showed a sharp rise, and near 70, it showed a positive divergence which indicates a positive outlook.

The MACD indicator showed a bullish crossover and persisted in forming green bars on the histogram.

Conclusion:

The EOS token price exhibited a bullish chart pattern, maintaining its upward momentum and securing gains above the 20-day EMA mark. This resilience signifies growing strength and a willingness to revisit previous highs in the vicinity of $0.800 during the upcoming trading sessions.

Technical Levels:

Support Levels:$0.7000

Resistance Levels:$0.8500 and $0.900

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading #crypto assets comes with a risk of financial loss.

#GOATMoments Although most cryptocurrencies were trading in the red heading into the weekend, the same can not be said for Optimism ($OP ), however, as it saw Optimism price rise by more than 8% over the past 24 hours alone. CoinMarketCap indicated that, at press time, the altcoin was worth about $1.51.

In addition to the price increase, OP’s 24-hour trading volume surged by more than 90% throughout the past day as well, which left it standing at $402,514,532 at press time. The crypto’s success over the past 24 hours also ended up pushing its weekly performance even further into the green to +23.44%.

Not only did OP strengthen against the Dollar, it was also able to outperform the two market leaders Bitcoin ($BTC ) and Ethereum ($ETH ) by 10.81% and 10.82% respectively over the past day of trading. As a result, 1 OP was worth 0.00005006 #BTC and 0.0007825 #ETH .

The altcoin was also able to reach a 24-hour high of $1.60, but had retraced slightly to trade at its current level. Nevertheless, OP was trading closer to its daily high than its daily low of $1.38.

Daily chart for OP/USDT (Source: TradingView)

OP was able to break above the strong resistance level at $1.478 over the past 24 hours and continued to trade above the key price point at press time. If the bullish momentum continues, the altcoin’s price may attempt to flip the next major resistance level at $1.557 into support in the upcoming 48 hours.

Technical indicators suggested that OP was in a medium-term bullish cycle with the 9-day EMA line positioned above the 20-day EMA line. Furthermore, both of these technical indicators were bullishly positioned above the significant 50-day #EMA line.

If OP’s price breaks below the recently-flipped $1.478 level over the next 24-48 hours, then the bullish thesis will be invalidated. In this scenario, the crypto’s price may fall to as low as $1.434 in the following few days.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.#Binanceturns6