EOS USD Medium-term Trend: Ranging
Supply levels: $14.5, $14.0, $13.5
Demand levels: $11.5, $12, $12,5
Yesterday, March 16, price of EOS had a bearish breakout at the support level of $13. Price of the asset fell to the low of $12. It was stated yesterday that if traders had placed sell stops at the support level or below the market price, traders would have made partial profits as a result of the bearish breakout. Today, price of EOS is trading at $13.16 as at the time of writing.
From the weekly chart, price of EOS has made a bullish movement to the previous range bound zone. The asset is likely to face resistance at the levels of $14 and $15. Also, EOSUSD pair is likely to range from the support level of $12 to the resistance level at $15. The relative strength index period 14 is level 65 indicates that price is in the bullish trend zone.
EOSUSD Short-term Trend: Ranging
On the daily chart, price of EOS has a bullish outlook. At a price of $12, the asset was in a range bound movement. Later, it rose to the high of $13.5 and commenced a range bound movement.
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