EOS Price Analysis - June 21

Azeez Mustapha
  • The medium and short-term outlook is consolidating.
  • Traders should wait for a breakout to go long or a breakdown to go short as the cryptoasset ranges 

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 continues ranging in the medium-term outlook. The bulls indeed pushed price back up to $10.88 in the supply area This area also is the upper line of the Bollinger band and the EOS price couldnt push past. The daily candle opened on the 10-day EMA at $10.43, compared with yesterday opening at $10.64.

The stochastic oscillator is at 68 percent. Its signal points down. It thus connotes downward momentum in ethereum price movement as the bears' pressure increases. $11.00 is still valid for the upper supply area of the range while $10.00 remains as lower demand area. Traders should be cautious about trading the rage as a breakout or a breakdown is likely to occur.

EOSUSD Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chart

The cryptocurrency is consolidating in the medium-term outlook. The bulls did push price higher as predicted yesterday. $10.88 in the supply area was the point the bulls gradually lost momentum. The bears set in and are taking price down the lower line of the Bollinger band.  The cryptoasset is trading between $10.90 in the upper supply area and $10.40 in the lower demand area

The stochastic oscillator is in the oversold region at 28 percent, it signals is undefined. Traders should wait for a breakout to the upside or a breakdown to the downside before taking a position.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.