EOSUSD Price Medium-term Trend: Ranging
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS is still in a range in its medium-term outlook. The strong bullish pressure within the range continues despite its price’s retracement to $4.81 in the demand area. The cryptocurrency went through an upward price movement to $5.30 in the supply area, although the opening 4-hour candle was bearish.
The stochastic oscillator is at 40%. Its signal is in a parallel line which connotes the ranging scenario. EOS continues ranging and trading between $5.30 in the upper supply area and $4.69 in the lower demand area of the range. Traders should wait for a breakout or breakdown before taking a position.
EOSUSD Price Short-term Trend: Ranging
The cryptocurrency returned to a range in short-term outlook. EOS experienced bearish pressure that saw its price drop from $5.16 in the supply area to $4.81 in the demand area. The bulls returned after the formation of a double bottom, which saw EOS go up to $5.30 in the supply area, despite a bearish opening 1-hour candle.
EOS is in consolidation and trading between $5.19 in the upper supply area and at $4.89 in the lower demand area of the range. Traders should be patient as the cryptocurrency ranges, to allow for a breakout or breakdown before entering a position.
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