EOSUSD Long-term Trend – Bullish
- Distribution territories: $4, $5, $6
- Accumulation territories: $1.50, $1, $0.50
EOS’ price has managed to break its past $2 to $1.5 range northward on December 17. The cryptocurrency managed to move up and trading sessions have gotten as far as testing the $3 territory on December 19.
The cryptocurrency’s price is now over the 14-day SMA’s trend line, around the $2.5 territory. The 50-day SMA is located above the 14-day SMA and the latter has started moving northwards around the $2 mark.
The Stochastic Oscillators have slightly crossed at range 80 to suggest the bulls are getting weak in the market. Currently, it has become apparent the immediate territory of $1.50 is crucial in the cryptocurrency’s bullish trend.
EOS’ price may now start ranging within the gap made between the 14-day and 50-day SMA’s for a while, until strong price movements occur.
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