EOSUSD Long-term Trend – Ranging
Distribution territories: $10, $12, $14.
Accumulation territories: $4, $3, $2.
EOS is still seeing its price move within a range this week. There been various indecisive movements in the cryptocurrency’s chart. It has been trading along with the two SMAs, which are currently next to each other. The cryptocurrency saw its price decline towards the $4 territory on August 14.
EOS’ SMAs are next to each other, below the $6 territory. The Stochastic Oscillators moved past range 40 and are pointing north. This means the cryptocurrency is currently trying hard to get past its SMAs.
If the $5 territory is breach, EOS could see its price enter a freefall, which would see it retest its August low of $4. On the other hand, a break through the $6 mark could see the bulls go through a number of distribution territories.
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