EOS Price Analysis – May 29

Azeez Mustapha
  • This pair might soon experience a slight downward move - but not as low as moving back to the last low point of $10.70. 
  •  The bears might struggle to push back against the upward trend.

EOSUSD Daily Trend – Bullish

Distribution territories: $12.50, $13.00, $13.50.

Accumulation territories: $11.50, $11.00, $10.50.

EOSUSD, has been witnessing a drastic decline in value from the highs of some days ago. The pair feel freely until the early hours of today almost to the point of touching the accumulation territory of $10.50. The bulls have been able to pull back against the bears.  The price has been strongly trending northward.

EOS, EOSUSD, Cryptocompare chart

Both the Simple Moving Averages were formally moving side by side but the 13-day SMA has been able to move separately above the 50-day SMA. It is worth observing that they both point northward. The Stochastic Oscillators have been able to move upward from the oversold region and are now moving into the overbought zone - still pointing northward. This pair might soon experience slight downward movement but not as low as moving back to the last low point of $10.70. At this point in time, the bears might struggle to push back against the upward trend.

 

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