Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Medium-term Trend: Bullish

Supply zones: $10.00, $11.00, $12.00

Demand zones: $5.00, $4.00, $3.00

EOS is in a bullish trend in the medium-term outlook. The bears lost momentum at $6.67 in the demand area as a doji candle, as indecision occurred in the market. The bullish hammer formed later confirming the bullish sentiment. The increased bullish momentum led to the break of the strong resistance now a support at $7.19, with price up to $7.52 in the supply area. This is above the 12-day EMA.

The stochastic oscillator is in the overbought region at 75 percent and its signal points down which implies that a slight downward momentum may occur to retest the support before the bulls return that may see price up initially at $8.00 in the supply area because the overall medium-term outlook is bullish.

EOSUSD Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency is in a bullish trend in the short-term outlook. The bears lost control of the market to the bulls at $6.67 in the demand area when bullish railway track was formed on July 13th as observed in the chart.

The bullish pressure pushed the cryptocurrency up $7.51 in the supply area after a larger bullish engulfing candle. Price is above the two EMAs crossover which is a bullish signal for EOS. Price is forming higher highs and higher lows that are unique to up trending market. The cryptocurrency may see new highs as the bulls’ pressure increases.

 

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