EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS continues in a range-bound market its medium-term outlook. With the bulls staging a comeback late yesterday which was confirmed by the bullish spinning top at $3.63. The bulls pushed the price up at in the supply area shortly after opening.
The price is above the two EMAs with the stochastic oscillator signal points up at 46% an indication of possible bulls continuation in the supply area within the range.
EOSUSD is in consolidation and trading between $3.90 in the upper supply area and at $3.50 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower area with a retest before a position is taken.
EOSUSD Price Short-term Trend: Ranging
EOS remains in consolidation in its short-term outlook. Today’s 1-hour opening candle at $3.62 was bullish this confirms the bulls control after the spinning top formed at the close of the market yesterday. EOSUSD rose to $3.70 in the supply area.
The price is above the two EMAs and the stochastic oscillator signal points up at 65% which is an indication of upward momentum within the range in the short-term.
$3.74 in the supply area is the upper price range while $3.60 in the demand area is the lower price range. A breakout from the upper supply area or a breakdown from the lower demand area may occur hence patience is required for this to play out before taking a position.
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