EOSUSD Long-term Trend - Bearish
Distribution territories: $10, $12, $14.
Accumulation territories: $4, $3, $2.
EOS’ price surged this week against the USD. On November 4, the cryptocurrency saw its price push from around the 14-day SMAs trend line northwards, past the 50-day SMA, to eventually test the $5.8 territory on November 7.
The cryptocurrency’s price is now being traded within the small space that’s found between the two SMAs. The 50-day SMA is currently above the 14-day one.The Stochastic Oscillators have moved from the overbought zone to point south around range 60.
This means the bears are gradually being able to change the market’s trend. A volatile bearish market could lead to the 14-day SMA being broken southward, which could see it fall below $5.2, $5, and even $4.8.
On the other side, bullish volatility near the 50-day Sma could see EOS approach its October 22 high.
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