EOS Price Medium-term Trend: Ranging
Supply zones: $11.00, $12.00, $13.00
Demand zones: $5.00, $4.00, $3.00
EOS is ranging in the medium-term outlook. The increased bearish pressure the cryptocurrency price down to $7.58 in the demand area. The cryptocurrency was at this same demand area on 24th June. The formation of a hammer, a reversal candlestick pattern returns the bulls. The two EMAs are in parallel to each other and price is seen hovering around them which implies a consolidation scenario.
The cryptocurrency is ranging and trading between $8.41 in the supply area of the upper price range and $7.76 in the demand area of the lower price range. Patience should be the order to allow for a breakout or a breakdown before taking a position.
EOS Price Short-term Trend: Bearish
The cryptocurrency is in consolidation in the short-term outlook. The double top formation returned the bears after the bulls pushed the cryptocurrency from $8.43 in the demand area to $7.58 in the supply area.
EOS is ranging and trading between $8.35 in the supply area of the upper price range and $7.62 in the demand area of the lower price range. Traders can take profit trading the range with a good scalping strategy.
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