EOSUSD Long-term Trend – Ranging

  • Distribution territories: $4, $5, $6
  • Accumulation territories: $1.50, $1, $0.50

EOS has kept on moving within the $3 and $2.5 price range in the last few trading sessions, despite enduring a significant decline on January 10. On December 17 of last year, a bullish candlestick emerged in line with the 14-day SMA, which only saw EOS touch the $3 mark.

EOS, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The crypto’s price has been hovering around the $2.5 range. The 14-day SMA has surpassed the 50-day SMA but is bent southwards towards it. The Stochastic Oscillators have move southward to partially touch range 20. From the look of every indicator, this crypto is set to start trading between the $2.5 and $1.5 range.

In the future we may see a correction to around the $2.5 and $2 marks, especially when volatility starts rising. A breakout above the trend’s upper range could see EOS hit $4 or more.

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