EOSUSD Price Medium-term Trend: Bullish
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS continues in a bullish trend in its medium-term outlook. The bulls sustained the momentum in the new year with a high of $2.76 in the supply area as the session came to an end on 1st January. Today’s 4-hour candle opening bearish spinning top could not reverse the trend as the strong bullish pressure pushed EOSUSD to $2.84 in the supply area.
A bullish continuation pattern of inverse head and shoulder is EOSUSD structure in the medium-term. With the price above the two EMAs crossover and the stochastic oscillator signal pointing up at 80% in the overbought region. These imply upward momentum in price. $3.00 in the supply area is the bulls’ initial target.
EOSUSD Price Short-term Trend: Bullish
EOS is in a bullish trend in its short-term outlook. The breakout from the upper supply area of the range occurred when the bullish candle at $2.73 pushed EOUSUSD up to $2.80 in the supply area. Increased bullish momentum led to a rise in price to $2.84 in the supply area.
The price is above the two EMAs crossover and the stochastic oscillator signal points up at 77% as the cryptocurrency continues its journey up north.
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