EOS Price Analysis – December 24

  • Bullish uptake in both the medium and short-term outlook
  • Buying at previous supply areas now demand areas may be considered

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOSUSD Price Medium-term Trend: Bullish

  • Supply zones: $9.00, $10.00, $11.00
  • Demand zones: $2.00, $1.00, $0.50

EOS continues in the bullish trend in its medium-term outlook. The bullish pressure was sustained as EOSUSD retested the $2.88 in the supply area on 23rd December and broke out with a large bullish candle as predicted. EOSUSD was up to the anticipated $3.09 area before the minor retracement to $2.80 in the demand area by the 10-EMA.

The opening of today's session was with a large bullish candle at $2.87 as EOSUSD went up to $3.15 in the supply area due to sustained momentum.

The stochastic oscillator is in the overbought region at 82% and its signal points up which connotes upward price movement. As long as the price is above the two EMAs and the EMAs are fanned apart, the bulls will keep pushing price up north.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOS returns to a bullish trend its short-term outlook. The breakout at the upper supply area by the bulls on 23rd December opened the door for new highs in the short-term. $3.09 in the supply area yesterday. $3.15 had already been attained after today's opening.

The EMA s will continue to serve as strong support for upward price movement.. Momentum is gradually being built up for another move to the upside in the short-term as the price lies above the two EMAs with the stochastic oscillator at the 79% and it signals down. This suggests a brief drawdown before the upward price movement.

 

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