EOSUSD Price Medium-term Trend: Bearish
Supply zones: $9.00, $10.00, $11.00
Demand zones: $2.00, $1.00, $0.50
EOS is in a bearish trend in its medium-term outlook. Its journey down south started on December 24 following the formation of a bearish hammer at $3.09. Gradually the bears pushed its price to $2.48 in the demand area on December 25, before momentum was lost.
The bulls picked up on this and increased their momentum, taking the crypto back to $3 before the bears returned. EOS’ price is hovering around its EMAs while the stochastic oscillator is in the oversold region at 19 and its signal points down which connotes downward price movement.
EOSUSD Price Short-term Trend: Bearish
EOS remains in a bearish trend in its short-term outlook. The bears’ brief loss in momentum at $2.54 in the supply area led to a flag formation as the bulls pushed the price north. This was a necessary behavior for the downtrend to continue.
The price is still below the 50-EMA but is close to the 10-EMA. The stochastic oscillators are at 21 pointing up, which implies a bullish flag before the a major downward movement.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
