EOSUSD Medium-term Trend: Bearish
Supply zones: $15.00, $16.00, $17.00
Demand zones: $7.00, $6.00, $5.00
EOS is ranging in the medium-term outlook. The bears’ strong pressure on price, took the cryptocurrency on the ride further south breaking the $8.00 and $7.00 demand zones. The formation of a bearish hammer at this area shows the bulls momentum exhaustion and the bears came in thereafter and pushed price down to $6.90 in the demand area.
The double bottom in this area means trend reversal and the bulls came in and pushed price to $8.40 in the supply area. The cryptoasset is trading between $8.50 in the supply area of the upper range and $7.00 in the demand area of the lower range. The stochastic oscillator is at 76 percent. Its signal points up, which implies a rejection of the downward momentum may be imminent.
EOSUSD Short-term Trend: Ranging
The cryptocurrency is consolidating in the medium-term outlook. The bears set in at $8.40 after the bullish exhaustion and pushed price down to $7.70 in the demand area. The bulls came in again and are currently pushing price up towards the upper supply area. $8.20 in the supply area is the upper price range while $7.70 in the demand area is the lower price range. Patience again is key while trading the consolidation.
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