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. The bearish pressure within the range came back at $5.52 in the supply area after exhaustion of the bullish momentum coupled with the formation of a bearish spinning top.
EOSUSD was down to $5.36 in the demand area earlier today with the 4-hour candle closing as a bearish pinbar – an indication that the bulls may return within the rang.
The price is below the two EMAs with the stochastic oscillator at 34%. Its signal pointing up which implies upward price movement within the range may be seen.
ETH is in consolidation and trading between $5.70 in the upper supply area and at $5.30 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 continues in consolidation in its short-term outlook. The bear pressure within the range remains dominant till this morning. They took EOSUSD further down to $5.36 in the demand area and lost momentum for continuation. The bulls are returning gradually and price is back in the range with EOSUSD at $5.44 in the supply area.
Price is above the 10-EMA and the stochastic oscillator is at 54% with its signal pointing up. It suggests upward price movement within the range in the short-term.
EOSUSD is in consolidation and trading between $5.63 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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