EOSUSD Price Medium-term Trend: Bullish
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS returned to a bullish trend in its medium-term outlook. The completion of the right shoulder of yesterday’s head and shoulders pushed EOS to $5.26 in the supply area. A rejection to further upward movement then occurred as the bullish momentum dwindled. EOS went down to $4.94 in the demand area before the end of yesterday’s session.
The opening 4-hour candle at $5.05 was bullish with the stochastic oscillator at 52 with its signal pointing up. This implies upward movement for EOS in the medium-term. A minor retracement may occur but the outlook of EOS is positive and price may go to the moon.
EOSUSD Price Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. Strong bullish pressure from $4.76 in the demand area pushed EOS initially to $4.92 and later to $5.20.
A pullback due to a bearish reversal may occur down to the 50.0 fib level but the bulls will stage a comeback as the overall outlook is bullish. The stochastic oscillator is at 50 and it signal points down. This implies downward movement for EOS as the bears’ pressure increases.
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