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 continues in the range in its medium-term outlook. $5.47 in the supply area was the high the bulls pushed EOSUSD to before rejection by the 50-EMA as the candle closed as an inverted hammer. The bears return was confirmed by the next bearish candle that saw the cryptocurrency down to $5.42. The bears’ pressure continued with EOSUSD down to $5.32 in the demand area early on today.

The price  is below the two EMAs with the stochastic oscillator at 31% its signal pointing down which implies downward price movement within the range in the medium-term.

EOS 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 either way.

EOSUSD Price Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOS continues in consolidation in its short-term outlook. The bearish momentum within the range was briefly lost as the bulls pushed EOSUSD to $5.47 in the supply area and lost ground due to the bearish railroad formation that brought back the bears. $5.40 in the lower demand area of yesterday’s range was broken as EOSUSD went further down to $5.38 but closed within the range. The bulls are gradually taking over again.

The price is above the 10-EMA and the stochastic oscillator is at 34% 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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