EOS USD Medium-term Trend: Ranging
Supply levels: $14.5, $14.0, $13.5
Demand levels: $11.5, $12, $12.5
The EOSUSD pair had a bearish breakout at $16 which resulted in its price falling to $13. During the week, the price of EOS dropped to a low of $12. Now the asset is range bound between the resistance level of $15 and the support level of $12. Last week the bears tested the support level about five times and were unable to break it.
However, that strong support level is a good entry point to place long trades whenever the price gets there. Any breakout at that level would be powerful. The asset is currently trading at $13.21. From the weekly chart, the price of EOS is approaching the resistance level of $15. EOS is currently facing resistance at the $14 mark. If price breaks through it, ot will reach highs of $15 and $18.
EOSUSD Short-term Trend: Ranging
On the daily chart, the price of EOS is in a range bound movement but has poor action. Trading can be suspended.
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