EOS Long-term Price Analysis September

EOSUSD Long-term Trend - Bullish

Distribution territories: $10, $15, $20.

Accumulation territories: $4, $3, $2.

EOSUSD was in a ranging zone two weeks ago. The ranging movement started on Sept. 6 as various lower lows and lower highs occurred in the market until September 19. On September 20, a spike emerged above the 14-day SMA’s trend-line to briefly breach northwards past the 50-day SMA signalling the breakout from the range to a bullish trend.

EOS, EOSUSD, Cryptocompare chartEOS Chart by TradingView

Price action has now been traded a bit above both the two SMAs around the price territories of $6 and $6.5. The 14-day SMA has briefly bent to point north very close below the 50-day SMA’s trend-line. The Stochastic Oscillators have moved to touch range 40. They still point north to suggest a greater probability of driving the price up. If the EOS price can break the resistance at $7.00 which was the monthly high a longer term bullish move is on the cards.

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