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 consolidation in its medium-term outlook. The bearish pressure within the range became weak after EOS dropped to $5.49 in the demand area. This paved the way for the bullish momentum that saw price up to $5.69 in the supply area before the end of the trading session yesterday.
The bullish 4-hour opening candle at $5.61 sustained the momentum and price was up $5.72 in the supply area.The stochastic oscillator is at 51% its signal points up which implies upward price movement within 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: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. The bullish railroad at $5.50 in the demand area signals a bullish takeover. The bullish 1-hour opening candle at $5.56 sustained the bullish momentum and EOS was up $5.72 in the supply area earlier today.
The price is above the two EMAs crossover – an indication of the bullish pressure.
The EOS price pattern is a W formation. It implies that the bullish momentum may continue to $5.85 in the supply area in the short-term.
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