EOSUSD Long-term Trend: Bullish
Distribution territories: $20.00, $25.00, $30.00
Accumulation territories: $$7.00, $5.00, $3.00
EOS has continued to lose against the US dollar A major decline first occurred on June 10, and another one occurred on June 22. The bears succeeded at pulling the price past the cryptocurrency’s previous June 10 low.Source: CryptoCompare
The bulls seem to have been devastated by the bears’ violent force. The two SMAs are still strongly bent southwards while the 50-day SMA is above the 13-day SMA. The price action has been trading against the April 11 bullish Japanese candlestick that signified a bullish market until April 29.
The Stochastic Oscillators were initially consolidating close to range 20 but have now dipped into the oversold territory a bit past it. The cryptocurrency’s value may still be subjected to further selling pressure.
The bulls may have to stage a comeback by gaining an advantage at any possible occurrence of a long bullish Japanese candlestick. Investors can hold back from buying the asset for a while. Traders can trade along its price’s direction. Always ensure proper financial management rules.
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