EOSUSD Long-term Trend – Ranging
- Distribution territories: $5, $5.50, $6
- Accumulation territories: $2, $1.50, $1
EOS’ price has been declining this week, as the pair has been moving in a ranged format around the $3.5 mark. Its 50-day SMA is located over its 14-day SMA.
The crypto’s price has been trading below the 14-day SMA. Its Stochastic Oscillators are close to range 40, which could be a sign its price is going to keep ranging in the near future.
Near the 50-day SMA, the bulls may find support to build up momentum in the market. Traders are advised to look for a strong price movement before considering placing orders.
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