EOSUSD Long-term Trend – Ranging
Distribution territories: $8, $13, $18.
Accumulation territories: $4, $3, $2.
EOS is one of the cryptoasset that has seen its price move within a range for quite a while. The cryptoasset’s ranging movements have neither been favoring the bulls nor the bears.
The $6 and $4 price territories are still seen as the crypto’s range boundaries. Currently, the market has very slowly aligning itself with the two SMAs. The Stochastic Oscillators have moved northward to seemingly start a set of consolidating movements around range 60.
EOS still appears to need to be pushed southwards, towards the accumulation territory of $4, before it can have a chance of entering a bullish trend. A reversal against the $6 territory could lead to a s bull trap in the short-term.
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