EOS Price Analysis – January 18

  • The medium and short-term outlook is in a bullish trend.
  • Traders may consider buying at keys areas of retracement.

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOSUSD Price Medium-term Trend: Bullish

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

EOS is in a bullish trend in its medium-term outlook. The pressure mounted on the cryptocurrency by the bulls was strong within the range leading to a breakout at the upper supply area. This was above the two EMAs as EOSUSD rose to $2.58 in the supply area.

The retest of the broken supply area was achieved twice. EOSUSD dropped to $2.50.

The price is above the two EMAs and the stochastic oscillator signal points up at 78%. This suggests upward momentum in price in the medium-term.

$2.65 in the supply area may be retested as the bullish pressure becomes much stronger with more candles opened and closed above the two EMAs.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOS is in a bullish trend in its short-term outlook. After breaking the upper supply area of the range, the bulls pushed the price further up to $2.58 in the supply area before the bears set in and dropped the price to $2.50 in the demand area.  EOSUSD had some brief bear pressure as the price dropped to $2.50 in the demand area shortly after opening.

The bulls are back as indicated with the bullish marubozu candle as the price sits above the two EMAs at $2.53 in the supply area.

The stochastic oscillator signal points up at 53% an indication of upward momentum in price in the short-term.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.