EOSUSD Long-term Trend - Ranging
- Distribution territories: $4, $5, $6
- Accumulation territories: $1.50, $1, $0.50
This week, EOS’ price has been essentially moving around the $2.5 mark, with the upper and lower limits of its current range being at $3 and $2. Both its SMAs are moving close to its current price.
The Stochastic Oscillators are seemingly moving north, while staying below range 40. This means the market is seemingly undecided on its next move, implying EOS’ current range, which has been maintained since December 18, may go on for another week.
The bears are expected to have an upper hand over the bulls, although traders should keep an eye on the $3.5 and $3 territories. A sudden breakout above these could see EOS move up further.
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