EOS Long-term Price Analysis

  • On September 6, the cryptocurrency started seeing a set of lower lows, until it got to the $5 territory,
  • It oculd still dip to the $4 territory in the next few days. Investors can buy the dip.

EOSUSD Long-term Trend - Ranging

Distribution territories: $15, $20, $25.

Accumulation territories: $3.50, $2.50, $1.50.

On September 5, EOS saw its price decline against the US dollar. Over the week, the cryptocurrency was being able to maintain an upward movement characterized by a set of short Japanese candlesticks that eventually saw its price touch the 50-day SMA from below, near the $7 territory.

EOS, EOSUSD, Cryptocompare chartEOS Chart by TradingView

On September 6, the cryptocurrency started seeing a set of lower lows, until it got to the $5 territory, set to go to the accumulation territory of $4. Its 50-day SMA is above the 14-day SMA.

The Stochastic Oscillators have moved southwards to touch range 20 and still point south. This suggests it’s still in a bearish trend. The bears, however, don’t seem to have the strength to push the market down like they did on Sept. 5. Investors are advised to buy the dip.

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