EOSUSD Long-term Trend – Ranging
- Distribution territories: $4, $5, $6
- Accumulation territories: $1.50, $1, $0.50
EOS’ price movements have been within a range that it has kept last year. In the first few trading sessions of this year, the cryptocurrency has been hovering along its 50-day SMA’s trend line.
Currently, the cryptocurrency’s price actin has seen the two SMAs get closer together. The 50-day SMA is still above the 14-day SMA. The Stochastic Oscillators have closed around range 50 to continue its movements.
EOS currently doesn’t appear to have a proper trading setup, meaning trading positions can, for a while, be suspended. A retest of the $2 territory can see the bulls form the conditions for an uptrend. Investors may look into buying the cryptocurrency or allow it to drop further.
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