EOS Price Analysis - June 22

Azeez Mustapha
  • The bears are in control of the medium-term while the short-term outlook is consolidating.
  • Patience is key trading the short-term outlook as it ranges to allow for a breakout or a breakdown before taking a position.

Eos, EOSUSD, Cryptocompare chartSource: CryptoCompare

EOSUSD Medium-term Trend: Bearish

Supply zones: $15.00, $16.00, $17.00

Demand zones: $8.00, $7.00, $6.00

EOS is in a bearish trend in the medium-term outlook. The bearish momentum was strong as they pushed price beyond the lower line of the bolinger band breaking the $10.00 lower demand area. Daily candle opens bearish at $10.42 below the two EMAs crossover. This implies strong bearish pressure. Yesterday opening price was $10.43 which still indicates sellers presence and pressure.

The stochastic oscillator is at 16 percent. Its signal points down. Upward momentum was rejected conversely the downward momentum will hold. This implies downward price movement of the cryptoasset.

EOSUSD Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chartSource: CryptoCompare

The cryptocurrency is consolidating in the medium-term outlook. The bears' pressure was strong as they pushed price further down to $9.10 in the demand area. $10.00 in the supply area is the upper price range while $9.00 in the demand area is the lower price range.

Traders should be patient and allow a breakout to the upside to go long or a breakdown to the downside for a short a position.

 

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