EOS Price Medium-term Trend: Ranging
Supply zones: $11.00, $12.00, $13.00
Demand zones: $5.00, $4.00, $3.00
EOS continues ranging in the medium-term outlook. The increased bearish pressure was sustained as price was pushed down to $7.71 in the demand area below the EMAs. The triple bottom formation in this demand area brought the bulls. Price was pushed up to $8.20 in the supply area with a bullish engulfing candle.
Price is above the two EMAs. The stochastic oscillator at 45 percent and the signal point up. This implies upward momentum in the price cryptocurrency in the medium.
The cryptocurrency is in consolidation 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 will be a good strategy to adopt for a breakout in the upper range or a breakdown at the lower range before placing a trade.
EOS Price Short-term Trend: Bullish
The cryptocurrency in a bullish trend in the short-term outlook. The bears’ pressure was strong as $7.62 in the demand area was broken. The bears lost momentum and the bulls returned after the formation of a bullish inverted hammer a reversal candlestick pattern.
Price was pushed up to $8.19 in the supply area to retest the upper range and above the two EMAs crossover. The stochastic oscillator is in the overbought region at 88 percent. Its signal is pointing up which mean upward price movement as the bulls momentum increases with bullish candle formation above the EMAs crossover.
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