EOS Long-term Price Analysis - February 9

  • EOS’ price notably still looks like it’s under selling pressure, as the cryptocurrency hasn’t managed to confidently break through its range.
  • If the crypto is pushed southwards to a low seen on December 17, it may keep on dropping.

EOSUSD Long-term Trend - Ranging

  • Distribution territories: $3.50, $4, $4.50
  • Accumulation territories: $1.50, $1, $0.50

EOS’ price has been moving around the $2.5 mark in the last couple of weeks. The cryptocurrency has seen its price rise along the 14-day SMA since February 4, but yesterday’s crypto market rise saw it move over both SMAs.

EOS, EOSUSD, Cryptocompare chartEOS Chart by TradingView

These indicators are currently separated by a small gap, with the 50-day SMA being above the 14-day SMA. The Stochastic Oscillators have crossed at around range 60, which signifies the cryptocurrency may keep moving up.

EOS’ price notably still looks like it’s under selling pressure, as the cryptocurrency hasn’t managed to confidently break through its range. If the crypto is pushed southwards to a low seen on December 17, it may keep on dropping.

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