EOSUSD Medium-term Trend: Bearish
Supply zones: $15.00, $16.00, $17.00
Demand zones: $6.00, $5.00, $4.00
EOS is in a bearish trend in the medium-term outlook. The bears’ strong pressure pushed its price down from the supply area at $8.01 to demand area at $7.22. The formation of a bullish hammer in a reversal candle pattern had little to no effect. $7.04 was the supply area the bulls could attain before the bears came and the price dropped to a demand area.
The stochastic oscillator is in the oversold region at 16 percent. Its signals point down, which implies downward momentum. The bears’ target in the medium-term may be a retest of $6.92 in the demand area on June 24.
EOSUSD Short-term Trend: Bearish
The cryptocurrency is bearish in the medium-term outlook. The daily opening candle was bearish at $7.59, compared to yesterday’s opening of $8.03. This implies further bearish pressure is to come. EOS’ price is below the two EMAs crossover, with the 12-day EMA acting as a strong resistance to bullish movement
The stochastic oscillator is at 30 percent and its signal points down which implies downward movement in the short-term.
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