EOSUSD Price Medium-term Trend: Ranging
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS continues in the range in its medium-term outlook. $5.65 in the supply area was the high the bullish pressure of 21st October could take EOSUSD to before the bears staged a comeback. The bears’ return was further confirmed with the bearish railroad at $5.56.as EOSUSD witnessed a low at $5.46 in the demand area late yesterday.
EOSUSD was up at $5.55 in supply area earlier today due to the 4-hour bearish hammer opening candle.
The price hovers around the two EMAs and the stochastic oscillator is at 43% with its signal pointing down which implies downward pressure within the range.
EOS is in consolidation and trading between $5.80 in the upper supply area and at $5.10 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area may occur hence patience is required before taking a position with good reversal candles as confirmation in either way.
EOSUSD Price Short-term Trend: Ranging
EOS is in consolidation in its short-term outlook. The weekend was no exception to the ranging scenario that started on15th October. A high of $5.65 in the supply area was attained within the range over the weekend. The 1-hour opening candle at $5.49 was bullish with EOSUSD making a brief recovery at $5.53 in the supply area earlier today.
The price is below the 10-EMA and the stochastic oscillator is at 42% with its signal pointing down. It suggests downward price movement within the range in the short-term.
EOSUSD is in consolidation and trading between $5.70 in the upper supply area and at $5.40 in the lower demand area of the range. Traders should be patient at this period and wait for a breakout at the upper supply area or breakdown at the lower demand area before entry.
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