EOS Price Analysis – September 13

Azeez Mustapha
  • Consolidation is currently happening in both the medium and short-term outlook.
  • Traders should wait for a breakout at the upper supply area or breakdown at lower demand area 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 continues ranging in the medium-term outlook. The bears' lost momentum after the formation of a doji at $4.77 in the demand area leading to the bulls gradual return. The sustained bullish momentum pushed price up to $5.11 in the supply area earlier today.

Price is above the 10-EMA an indication of bullish pressure. The stochastic oscillator is at 59% its signal points up which implies upward price movement due to bullish momentum within the range in the medium-term.

EOS remains in consolidation 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 is ranging in its short-term outlook. The bullish 1-hour opening candle at $4.99 sustained yesterdays bullish momentum pushing EOS up to $5.11 earlier today as it continues in the range.

EOS is still ranging and trading between $5.09 in the upper supply area and at $4.75 in the lower demand area. Patience is key at this period of consolidation for a defined trend after a breakout or a breakdown.

 

 

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