EOSUSD Long-term Trend - Ranging
- Distribution territories: $3.50, $4, $4.50
- Accumulation territories: $2, $1.50, $1
The price of EOS is ranging around the $3 mark, after ir surged from a lower price point back in February 8. Before getting to its current range, the cryptocurrency was trading around the $3.5 mark in the last few weeks.
The 50-day Sma has surpassed the 14-day SMA after intercepting it from below. This shows the bulls’ force in the market. The Stochastic Oscillators are out of the overbought zone, but only slightly below range 80.
This shows that the bulls are no longer pushing the market upwards. The crypto appears to be seen its bullish momentum wear out, as the $3 mark hasn’t been breached upwards in a strong price movement. EOS appears to be going through the trend it saw between January 2 and 10. Trading may be suspended for a while.
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