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Guide & Analysis

EOS, IOTA, MATIC Price analysis: August 2nd

Following Bitcoin, which has dropped 4% in the last 24 hours, altcoins have also seen similar declines.

The EOS showed signs suggesting further pullback, the downward pressure on the IOTA was declining, while finally the MATIC has dropped 3.7% so far.

EOS

EOS/USD, TradingView

The price of the EOS was at $4.14 at the time of writing, a figure that has marked a 0.7% devaluation since yesterday. The altcoin move could be termed slightly bearish as the technical outlook suggested the same. A further setback could bring the EOS down to the $3.96 level.

The Awesome Oscillator displayed red signal bars, although they appeared to be declining. The indicator pointed to a drop in buying pressure. The MACD also displayed red histograms after a bearish cross 24 hours ago.

The Relative Strength Index saw a considerable drop in buying pressure. However, it soon recovered somewhat and rose above the breakeven point. In case the price goes up, the resistance level to watch would be $4.34.

IOTA

IOTA/USD, TradingView

The IOTA value has also dropped in the last 24 hours. It registered a drop of 3.9% with the price fluctuating around US$ 0.91. The support zone of USD 0.86 has been waiting for the cryptocurrency so far, but further bearish momentum may see alt trades approach that level.

The MACD underlined a drop in buying pressure along with the formation of red histograms. The Awesome Oscillator also noted the presence of bearish signals. Unfortunately, they were losing momentum at the time of writing.

On the other hand, Chaikin’s Cash Flow was identified well above zero as capital inflows maintained their strength. If bears lose momentum, the IOTA could rise to test its $0.95 resistance level.

MATIC

MATIC/USD, TradingView

MATIC was down 3.7% as its price was trading around $1.07 at the time of this writing. The Bollinger Bands hinted that the price may fluctuate within a range as the indicator was broadly parallel with little divergence.

In case of a rally, the resistance level was at $1.16 and on the other hand, the support level was at $0.99.

The Awesome Oscillator noticed the presence of bears. However, this bearish signal could die out soon. MACD also imagined the same by looking at small red histograms on the charts.

Source: AMBCrypto

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