EOSUSD Long-term Trend – Ranging
- Distribution territories: $3.50, $4, $4.50
- Accumulation territories: $1.50, $1, $0.50
EOS’ price has been moving within a specific range over the last few trading sessions, between the $3 and $2 marks. The cryptocurrency has been moving towards the lower end of its range, however.
EOS’ SMA indicators are located within its range, with the 14-day SMA being close to its price. The Stochastic Oscillators are close to range 40 which means traders appear to be undecided on where EOS’ price may go next.
Taking into account the bulls’ presence, it may be hard for the crypto to recover in the near future. As a result, EOS may appear stagnant in the near future, while trading within its current range. A decent entry point may be around the $2 mark, or the $1 mark if it keeps dipping. This may lead to a bearish reversal.
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