EOSUSD Long-term Trend – Ranging
Distribution territories: $10, $15, $20.
Accumulation territories: $4, $3, $2.
It has been a ranging week for EOS’ price, in line with what’s been going on in the past few weeks. On October 14, the cryptocurrency’s price came up as two bullish Japanese candlesticks formed along the two SMAs.
The two SMAs have been closely moving together since around September 21, and in light of the price’s lack of momentum the two haven’t ben able to separate since then. EOS’ current range is market by the $5 and $4 territories.
The Stochastic Oscillators appear to be starting a consolidation movement between the ranges 50 and 25. This means caution is advised when trading the EOSUSD pair in the near future.
Investors are advised to watch out for a potential dip towards the $4 territory to enter the market. A potential bearish reversal will allow traders to go long.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
