EOSUSD Long-term Trend - Ranging
- Distribution territories: $4, $5, $6
- Accumulation territories: $1.50, $1, $0.50
This week, EOS has been seeing lower lows and lower highs in its price. Last week the cryptocurrency managed to move northwards to push past the $3 mark on December 24, before falling back down.
The EOSUSD trading pair has seen its 14-day SMA get breached on December 27, and the price is currently above it. The 50-day SMA is located above the 14-day SMA although there’s a short gap between them.
The Stochastic Oscillators are below range 60 and are pointing south. This could signify that more ranging movements are to come. It’s important to point out that EOS hasn’t been strong enough to recover its previous highs so far. As such, it would benefit from further lows as it would help the bulls rebuild their stance.
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