EOS Price Medium-term Trend: Bullish
Supply zones: $11.00, $12.00, $13.00
Demand zones: $5.00, $4.00, $3.00
EOS is in bullish trend in the medium-term outlook. The bulls sustained the high momentum and this led to the break of the upper price range at $8.41. The inverted bearish hammer a reversal pattern returned the bears whose pressure is pushing price down possible to retest the broken $8.41 supply area now a demand area. A bullish return is most probable at this demand area.
Price is above the two EMAs crossover which is an indication of the bullish pressure. As more candles opened and closed above $8.41 and the 12 day EMA the bulls would still remain in charge in the medium-term.
EOS Price Short-term Trend: Bullish
The cryptocurrency continues in a bullish trend in the short-term outlook. The bulls pressure was maintained as price made a new high of $8.68 in the supply area. The daily candle opened bullish at $8.57 and the bulls further moved the cryptocurrency up to $8.92 in the supply area.
The double top formation in the supply area returned the bears. Price is down to $8.43 in the demand area. With the Fibonacci retracement, price is within the 38.2 fib level which is trend continuation zone. The bulls may return at this zone or at the 50.0 fib level. Traders should what out for bullish trend reversal candles before going long. The bulls may retest the 9.00 supply area in the short-term.
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