EOS Price Analysis - June 6

  • The medium short-term outlooks are consolidating
  • Patiently waiting for the market to go one direction after a breakout or breakdown from the range should be considered

Eos, EOSUSD, Cryptocompare chart

EOSUSD Medium-term Trend: Ranging

Supply zones: $16.00, $17.00, $18.00

Demand zones: $11.00, $10.00, $0.9000

 

EOS is ranging in the medium-term outlook. The bears and the bulls are fighting for dominance in the market as the pair goes into consolidation. The bears lost momentum as price was pushed down to the $13.88 demand area from the supply area at $14.28.

 The bulls never got the momentum they needed to push the price up. The cryptocurrency is now hovering around the two EMAs. Daily candles opened bullish on the 10-day EMA. Possibilities of bullish developments may be experienced within the range. The opening price was $14.00, while yesterday it was of $13.63, which further implies bullish developments may be seen within the ranging market. 

EOSUSD Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chart

The cryptocurrency’s medium-term outlook is of consolidation. After a bullish run from the demand area at $13.40 that pushed price to the supply area at $14.20, the bulls lost control. Thereafter you can see the price’s ups and downs because of the struggle between the bulls and the bears as the market consolidates. Adopting a good strategy trading the range may be considered, before a major breakout or breakdown occur.

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