EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is still in a range-bound market in its medium-term outlook. Bullish pressure remains strong within its range despite a push from the bears. EOS’ price dropped to $3.39 in the demand area, but closed as a bullish hammer before the end of yesterday’s trading session.
It then went back up to $3.71 in the supply area. The bulls are back as indicated by the Stochastic Oscillator’s signal, which points at 74, suggesting upward momentum in a near future.
EOS is consolidating,while trading between the $4 and $3.5 marks. Traders should wait for a breakout or a breakdown before entering a position.
EOSUSD Price Short-term Trend: Bullish
EOS is in a bullish trend in its short-term outlook. Yesterday, the bears attempted to retest the cryptocurrency range’s lower end at $3.39, but soon the bulls returned to support it back to $3.54, a move sustained in today’s trading session, which helped Eos go over $3.7.
Its price is above its EMAs, which shows bullish pressure is present. The Stochastic Oscillator points to 73, suggesting an upward momentum. The $3.8 mark is still a target for the bulls.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
