EOSUSD Medium-term Trend: Ranging
Supply zones: $15.00, $16.00, $17.00
Demand zones: $7.00, $6.00, $5.00
EOS continues ranging in the medium-term outlook. The bulls managed to push the price to $8.49 in the supply area. The formation of double top signals trend reversal and the bears came back and dropped the price at $7.97 in the demand area, which is also the lower band of the Bollinger band.
The price is on the two EMAs which is an indication of consolidation.
The daily opening price was $8.13 in comparison to yesterday’s opening of $8.04 which indicates the buyers’ presence and a likely bullish momentum in the medium-term.
The cryptoasset is trading between $8.00 in the supply area of the upper range and $7.00 in the demand area of the lower range.
The stochastic oscillator is in the oversold region at 21%. Its signal is pointing down, which implies a price downward momentum due to the bears pressure.
EOSUSD Short-term Trend: Ranging
The cryptocurrency is consolidating in the medium-term outlook. The bears pushed the price down from $8.20 in the supply area to $7.90 in the demand area. The bulls came in this area and pushed the price back up to $8.20. They lost momentum and the bears set in for another journey South dropping the price at $7.92 in the demand area. The bulls are currently pushing the price up. Patience is recommended while trading.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
