Eos, EOSUSD, Cryptocompare chart

EOSUSD Medium-term Trend: Bearish

Supply zones: $15.00, $16.00, $17.00

Demand zones: $9.00, $8.00, $7.00

EOS remains in a bearish trend in the medium-term outlook. After pushing price to $9.00 in the demand area, the bears briefly lost momentum. This resulted in the bulls return whose momentum gradually push price initially to $10.28 and next to $10.48 in the supply area. This bullish run should be seen as a pullback necessary for market correction.

Flag has been formed by this bullish activities. A flag is an indication for previous trend continuation and in this case the downtrend. This implies that a major selloff may occur soon. The stochastic oscillator is already in the overbought region meaning that the upward momentum is exhausted and the downward momentum may commence soon.

EOSUSD Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chart

The cryptocurrency is bullish in the medium-term outlook. The bears broke the lower demand area of yesterday range and took price lower to $9.15 in demand area but lost momentum and could not go further down. The bulls came back and drove price up initially to the supply area at $10.10 and later to $10.40. Price is forming higher highs and higher lows that are bullish market characteristics.

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