EOS Price Analysis – September 10

  • The medium and short-term outlook is ranging.
  • Patience is key to allow for a breakout or breakdown before taking a position 

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Price Medium-term Trend: Ranging

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS is ranging in its medium-term outlook. The bearish pressure was lost at $4.60 due to the formation of a bullish hammer. The bulls gradually returned and were confirmed by the bullish engulfing candle. Price was up $5.17 in the supply area.

The bears pushed price was down to $4.88 in the demand area as the cryptocurrency enters the range. The stochastic oscillator is in the overbought region at 78%. It signals is parallel, a reflection of the ranging scenario.

EOS is ranging and trading between $5.24 in the upper supply area and at $4.68 in the lower demand area. Traders should be patient for either a breakout at the upper supply area or a breakdown at the lower demand before taking a position.

EOSUSD Price Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency return to the range in its short-term outlook.  The lower demand area at $4.83 was broken on 8th September and went further down to $4.60 in the demand area.

The bullish engulfing candle returned the cryptocurrency back into the range. EOS was up to $5.17 in the supply area. The bears returned with a large bearish engulfing candle as the cryptocurrency consolidates.

EOS is ranging and trading between $5.50 in the upper supply area and at $4.83 in the lower demand area. Patience is key at this period of consolidation for a defined trend after a breakout or a breakdown.

 

 

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