Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Price Medium-term Trend: Bullish

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS is in a bullish trend in its medium-term outlook. The strong bullish momentum finally broke the upper supply area at $5.24 on September 15th and continued further to $5.51 above the two EMAs crossover.

The bears returned after the formation of an inverted hammer couple with a bearish spinning top. A retest of the broken supply area occurred on September when EOS dropped to $5.18 in the demand area.

The 4-hour candle at the demand area closed as a hammer suggestive of a trend reversal. The cryptocurrency was pushed back up to $5.49 in the supply area.

Price is above the two EMAs with the 10-EMAs acting as a strong support for upward price movement. With the bullish pressure sustained in the medium-term, EOS may attain $5.80 in the medium-term 

EOSUSD Price Short-term Trend: Ranging

 Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency returns to the range in its short-term outlook. $5.18 in the demand area was the point the bear dropped EOS before closing as a long-tail bearish candle. This implies a gradual bulls’ return. The bullish engulfing candle confirmed returned as price was up at $5.49.

The stochastic oscillator is at 44% and it signal turns up. This implies upward movement of EOS as the bullish pressure becomes strong in the short-term.

 

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