EOS, ZECUSD, CryptoCompare chart

EOS USD Medium-term Trend: Ranging

Supply levels: $19.5, $19.0, $18.5

Demand levels: $16.5, $17.0, $17.5

Yesterday, May 2, price of EOS was in a bullish market. The EOSUSD pair was expected to reach the high of $20 yesterday. Today, the market is in a range bound movement. Price of EOS is fluctuating from the resistance level at $20 to the support level at $15. The bulls and bears have not made any serious attempt at breaking any of the levels.

The relative strength index period 14 is level 25 which indicates that the market is oversold suggesting bulls to take control of the market.

EOS USD Short-term Trend: Ranging

EOS, ZECUSD, CryptoCompare chart

Price of EOS is in a ranging market on the daily chart. The EOSUSD pair was trading horizontally at a price of $18.5.  Price of the asset rose  to $19.0 and resumed another range bound movement and the price pullback and found support at o $17.5.  At the support level, it continues its range-bound movement. This is a ranging market where the price action is choppy.

The price of the asset is not evenly apart between  the resistance level and the support level. Therefore, we abstain from trading for that particular time.

 

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