EOSUSD Long-term Trend – Ranging
Distribution territories: $5, $6, $7
Accumulation territories: $1.50, $1, $0.50
EOS’ price has seemingly been starting to hold on to a specific price level this week. Prior, the cryptoasset was seeing its value decline against the US dollar over various successive trading sessions.
The crypto’s current range is marked by the $2 and $1.5 territories. The 14-day SMA is currently above the upper limits of the range, while still being underneath the 50-day SMA. The Stochastic Oscillators are consolidating around range 20.
It hasn’t been easy for EOS in the last couple of months, which means that given the current range it isn’t easy to find a proper entry point to go long. If lacking proper price action, the crypto may keep on moving within its well-defined range in the next few days or weeks
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