EOS Price Analysis – September 20

Azeez Mustapha
  • Bullish uptake in the medium and short-term outlook
  • Traders may consider buying with bullish reversal candles as confirmation at demand areas

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 remains in a bullish trend in its medium-term outlook. The bullish pressure was sustained as EOS made a high of $5.38 in the supply area yesterday.

A minor pullback to $5.18 in the demand area this morning occured due to the bears' pressure - necessary for the market correction before uptrend continuation.

The stochastic oscillator is in the overbought region at 82% with its signal pointing up. This implies upward movement of the price of EOS in the medium-term.

A new high of $5.50 in the supply area may be attained by the bulls as momentum increases.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The price is above the two EMAs crossover with the 10-EMAs acting as strong support for the upward bullish movement. The price is within the 23.6 fib level and may retrace further to the 38.2 fib zones before the bulls stage a comeback.

As more candles form and close above the EMAs crossover and the price moves to the upside - $5.50 may be the bulls target in the short-term

 

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