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
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.
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