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 consolidation in its medium-term outlook. The bullish pressure within the range was strong as $5.89, the upper supply area of the range was retested. The candle close as a bearish spinning top  signaled the bears’ return as the bullish momentum fades.

The 4-hour opening candle at $5.80 was bearish and EOS dropped to $5.66 in the demand area below the 10-EMA. The stochastic oscillator is in the overbought region at 79% its signal points down which imply downward movement of the cryptocurrency price 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: Bearish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency returns to a bearish trend in its short-term outlook. The strong bullish pressure from the W pattern analyzed yesterday hit the target at $5.85 in the supply area. Further bullish momentum led to EOS up to $5.90 before exhaustion set in as seen with wicks in the candles.

The bearish railroad at $5.85 signals the bears’ takeover with EOS down to $5.66 earlier today. The price is below the two 10 EMA and the stochastic oscillator at 33% points down. This suggests further downward movement in price in the short-term. $5.45 in the demand area may the bears’ target as the journey south resumes.

 

 

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