Eos, EOSUSD, Cryptocompare chart

EOSUSD Medium-term Trend: Ranging

Supply zones: $15.00, $16.00, $17.00

Demand zones: $9.00, $8.00, $7.00

EOS is still ranging in the medium-term outlook. The upper Bollinger band acted as a strong resistance for a further upward movement. The bears’ pressure kept price below the 12-day EMA. $10.67 was the daily opening price above the EMAs crossover. This price was higher than yesterday opening at $10.40.

The stochastic oscillator is at 48 percent. Its signal points down. It thus implies that we may see minor bearish momentum before the favoured bullish momentum. $11.00 is the upper supply area of the range while $10.00 is lower demand area. Traders should be cautious trading the rage as a breakout or a breakdown may occur sooner than expected.

EOSUSD Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chart

The cryptocurrency is in a bullish trend the medium-term outlook. The bears did push price down to $10.18 in the demand area before the bulls came in and capped it at $10.91. Brief consolidation occurred around $10.50 before the bulls broke out and took price up.

The stochastic oscillator is at 68 percent with it signals point up. This is an indication of upward price movement due to the bullish pressure. Price is beginning to form higher highs and higher lows that are up trending market characteristics. Price is above the EMAs crossover and the 12-day as you can see acting as a strong support against bearish attempts.

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