EOSUSD Price Medium-term Trend: Ranging
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS continues in the range in its medium-term outlook. The bullish spinning top at $4.66 in the demand area was key in the return of the bulls with the price up to $4.96 in the supply area. EOS was up at $5.36 in the supply area at the opening with a bullish 4-hour candle breaking the upper supply area of yesterday’s range.
The price is below the 50-day EMA with the bears returning and pushing the price back down currently at 4.97 in the demand area.
EOS continues ranging and trading between $5.30 in the upper supply area and at $4.69 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower demand area to occur before taking a position.
EOSUSD Price Short-term Trend: Ranging
The cryptocurrency returns to the range in the short-term outlook. The strong bullish pressure broke the $5.00 of the upper supply area of yesterday’s range and lost momentum. EOS was up $5.36 in the supply area earlier today before the bullish exhaustion.
The price was down to in the demand area in the demand area with the stochastic oscillator at 44% and its signal points down which implies downward movement in the price of the cryptocurrency may occur within the range.
The cryptocurrency is ranging and trading between $5.26 in the upper supply area and at $4.85 in the lower demand area of the range.
Patience is key at this moment for a breakout or breakdown to occur before taking a position.
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