EOSUSD Long-term Trend - Bearish
Distribution territories: $10, $12, $14.
Accumulation territories: $4, $3, $2.
EOS’ market price has been experiencing a significant drop against that of the US dollar. The cryptocurrency has dropped past the $4.5 territory to the $4 territory in the last few trading sessions.EOS Chart by TradingView
A notable correction occurred on November 15, and currently the market has ben hovering around the first mentioned price territory. At around October 13, the 15-day Sma was intercepted by the 14-day SMA. The 14-day SMA is under the 50-day SMA.
The Stochastic Oscillators have crossed range 20 to seemingly start a consolidation move around it. The indicator shows the bears are gradually getting weaker, and the crypto is seemingly finding strength at the $4.5 and $4 price points. This could eventually see it enter a bullish period.
If EOS is to further head south, it isn’t expected to drop past the $3.5 territory.
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