EOS Price Medium-term Trend: Ranging
Supply zones: $11.00, $12.00, $13.00
Demand zones: $5.00, $4.00, $3.00
EOS is in a range in the medium-term outlook. The bullish engulfing candle could only manage a push to $7.29 in the supply area. The bearish railway track a candlestick reversal pattern returned the bear and price was down to $6.89 in the demand area.
The returned of bears as bearish railway track formed pushed price down initially to $6.94 in the demand area. The stochastic oscillator is at 33% and its signal is parallel which connotes a ranging scenario.
EOS is in consolidation and trading between $7.33 in the upper supply range and at $6.83 in the lower demand range. Patience will be a good strategy to adopt and wait for a breakout at the upper range or breakdown at the lower range before taking a position.
EOS Price Short-term Trend: Ranging
The strong bullish pressure led to a high at $7.16 in the supply area before the bulls returned due to a bearish inverted hammer formed at this area. Price was pushed down to $6.93 in the demand area.
The cryptocurrency is in the range and trading between $7.05 in the supply area of the upper range and $6.92 in the demand area of the lower range. Traders should be patient trading the range and allow either a breakout at the upper range or a breakdown at the lower range before taking a position.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
