EOS Long-term Price Analysis

Azeez Mustapha
  • The cryptocurrency has dropped past the $4.5 territory to the $4 territory in the last few trading sessions.
  • Indicators show the bears are gradually getting weaker, and the crypto is seemingly finding strength at the $4.5 and $4 price points

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, EOSUSD, Cryptocompare chartEOS 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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