EOS Price Analysis – December 27

  • The bears are in control of both the medium and short-term outlook.
  • Responsible selling at pullback areas with bearish reversal candlestick as confirmation before entry

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOSUSD Price Medium-term Trend: Bearish

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

EOS remains in the bearish trend in its medium-term outlook. The bulls manage a push to $2.67 in the supply area after the bears' brief momentum lost at $2.53 in the demand area. A market correction was necessary hence bullish pullback.

The bears' return was announced with a bearish engulfing candle at $2.64 as at market opening today. EOSUSD had dropped to $2.50 in the demand area.

The price is clearly below the two EMAs crossover while the stochastic oscillator signal points down at 24% which implies downward price movement. As more candles formed and closed below the EMAs due to the bearish momentum, $2.40 in the demand area remains an initial target by the bears.

 EOSUSD Price Short-term Trend: Bearish

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOS remains in a bearish trend its short-term outlook. The crypto is in a downward channel in the short-term as the bears kept price with the channel. The bullish momentum from the $2.50 in the demand area aims at the upper line of the channel before a possible return of the bears.

$2.62 at the upper line around the 50-EMA was the point the bullish pressure shows weakness and the bears staged a return to drop the price down to the lower line of the channel in the short-term.

 

 

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