Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Price Medium-term Trend: Ranging

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS is in consolidation in its medium-term outlook. The bullish pressure at $5.59 from the formation of the hammer on 29th September pushed price above the 10-EMA to $5.94 in the supply area. Exhaustion of the bullish momentum occurred as candles close with wicks. The bears returned was further confirmed with the bearish engulfing candle at $5.79.

The stochastic oscillator is at 49% its signal parallel, a reflection of the ranging scenario as the bears’ pressure increases in the range. EOS is in consolidation and trading between $5.89 in the upper supply area and at $5.33 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area is imminent hence traders should be patient before taking a position.

EOSUSD Price Short-term Trend: Bearish

EOS ST.pngEOS Chart by TradingView

The cryptocurrency is in a bearish trend in its short-term outlook. The bearish pressure from in the $5.94 in the supply area of 30th September dropped EOS to $5.32 in the demand area.

The bullish pullback to $5.84 in the supply area was brief after today’s opening session but the bears stage a comeback at $5.76 after the formation of an inverted hammer. EOS was down to $5.51 below the two EMAs. The stochastic oscillator at 30% and it signal points down. It thus implies downward movement in price due to the bears’ pressure in the short-term.

 

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