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
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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