EOSUSD Price Medium-term Trend: Bullish
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS is in a bullish trend in its medium-term outlook. The bulls pressure from $5.73 in the demand area after the flag formation pushed EOS up, $6.00 in the supply area. This broke the upper supply area of yesterday range at $5.89.
A retest of the broken area was made with the 4-hour opening candle that closes as a bearish doji. EOS dropped to $5.90 in the demand area. This also shows that another flag is been formed. It thus implies that strong bullish comeback may occur. Price is above the two EMAs and the stochastic oscillator is in the overbought region.
As more candles formed and closed above the two EMAs $6.40 in the supply area may be the bulls target in the medium-term.
EOSUSD Price Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. The bullish railroad at $5.65 in the demand area sustained the momentum as EOS was up $5.94 in the supply area. This was a break in the upper supply area of yesterday’s range.
EOS was down to 5.90 in the demand area earlier today due to the bears’ pressure from yesterday’s bearish engulfing candle. This should be seen as a pullback required for the market correction.
The price is around the 10-EMA and above the 50-EMA – an indication of the bulls presence and upward price movement.
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