EOS USD Medium-term Trend: Ranging
Supply levels: $18.3, $18.2, $18.1
Demand levels: $17.7, $17.8, $17.9
Yesterday, March 9, the EOSUSD pair was in a range-bound movement and the relative strength index continued to show that. The ranging market of the pair has a choppy price action that cannot be traded. The asset was trading at $18.02 at the time of writing. Nevertheless, the price is still in a ranging market.
The ranging market commenced on April 30, 2018, when the asset fell from $23 to the support level of $16. From that support level, it rose to $18.5 and continued its range bound movement between the resistance level at $20 and the support level at $16. Since April 30, the EOSUSD pair has not come out of this range-bound zone. Yesterday, the asset was trading at $17.84 and it is now $18.02, about 1% increase.
Meanwhile, the relative strength index period 14 is level 67, which indicates that price is in a bullish trend zone.
EOS USD Short-term Trend: Ranging
The daily chart shows EOS in a ranging market. The asset is ranging from the resistance level at $18.1 to the support level at $17.6.
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