EOSUSD Price Medium-term Trend: Bullish
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is in bullish trend in its medium-term outlook. The bulls are gradually back after the minor drawdown to $3.75 in the demand area due to the formation of a bullish pinbar. Full confirmation of the bulls takeover occurred with the bullish marubozu formed at $3.80.
Today’s 4-hour opening candle at $3.80 sustained the bullish momentum with EOSUSD up at $4.00 in the supply area.
The price is currently above the two EMAs and the stochastic oscillator signal points up at 66%. These suggest an upward momentum in the medium term.
$4.50 in the supply area may be retested in the medium-term.
EOSUSD Price Short-term Trend: Ranging
EOS is in a range-bound market in its short-term outlook. $4.01 in the supply area was high while $3.74 in the demand area was the low of yesterday. The cryptocurrency continues in a range-bound motion. $3.79 in the demand area was tested and closed as a hammer This brought back the bulls whose pressure led to EOSUSD up at $4.00 in the supply area.
The price is above the two EMAs and the stochastic oscillator signal is parallel an indication of the ranging scenario in the short-term.
EOSUSD is ranging and trading between $3.98 in the upper supply area and at $3.67 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence traders should be patient.
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