EOSUSD Price Medium-term Trend: Bullish
- Supply zones: $7.00, $8.00, $9.00
- Demand zones: $2.00, $1.00, $0.50
EOS is in bullish trend in its medium-term outlook. The cryptocurrency structure in that of a descending channel with the bulls target at the upper line of the channel. The large bullish engulfing candle at $2.31confirmed the bulls control of the market.
EOSUSD went up to $2.18 in the supply area which is around the two EMAs.The bullish momentum may be sustained as confirmed by the stochastic oscillator signal pointing up at 41%. This suggests an upward movement in price of EOSUD.
$2.18 in the supply area is the bulls’ target in the medium term.
EOSUSD Price Short-term Trend: Ranging
EOS is in consolidation in its short-term outlook. The strong bearish pressure from the spinning top at $2.40 sustained the momentum until the end of the day. $2.31 was the low of the day as the session came to an end.
The bears continued their pressure on the price after the opening. $2.30 in the demand area was the point of exhaustion as the bulls staged a comeback. EOSUSD was up at $2.37 in the supply area within the range.
The price is above the two EMAs and the stochastic oscillator is up at 76% with its signal pointing up. This implies upward momentum within the range.
ETH is in consolidation and trading between $2.41 in the upper supply area and at $2.30 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this happen subject to a retest before a position is taken.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
