EOS Price Analysis – August 14

  • The medium and short-term outlook is in a bearish trend.
  • Traders may consider selling at supply areas with reversal candlestick pattern as confirmation.

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Price Medium-term Trend: Bearish

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS is in a bearish trend in its medium-term outlook. $4.88 at the lower demand area of yesterday's analysis was broken due to the sustained bearish pressure. Increased bearish momentum dropped the cryptocurrency at $4.46 in the demand area before the close of yesterday's market.

The 4-hour opening candle was bearish at $4.58 with increased bearish momentum the price was down to $4.17 in the demand area.

The stochastic oscillator is in the oversold region at 10% and its signal is down which implies downward momentum in the price of the cryptocurrency.

$3.50 in the demand area may be the bears' target.

EOSUSD Price Short-term Trend: Bearish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency is in a bearish trend in the short-term outlook. The strong bearish pressure led to the breakdown at $4.85 in the lower demand range of yesterday's range. 

 The 1-hour daily opening candle at $4.58 was bearish and the price went further down to $4.17 in the demand area.

The formation of a flag was  a result of the bullish momentum. The bears will likely stage a comeback that will further push the cryptocurrency south.

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.