EOSUSD Long-term Trend – Ranging

  • Distribution territories: $5, $5.50, $6
  • Accumulation territories: $2.50, $2, $1.50

EOS has been trading between the $3.5 and $4 marks since March 6, as it’s currently within a range. Its price is currently fluctuating close to its 14-dat SMA, which is over the 50-day SMA.

EOS, EOSUSDEOS Chart by TradingView

The Stochastic Oscillators appear to be consolidating around range 40. This likely shows there’s a possibility of EOS to make more upward movements in the future. The bears may be able to overwhelm the bulls as well.

EOS may however keep trading between $4 and $3 for a while. Buyers may have to prepare for a decent set up to go long around the 50-day SMA.

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