EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS remains in a range-bound market its medium-term outlook. The bullish pressure had little effect on price despite the long-tailed hammer formed at $3.78. EOSUSD was briefly high at $3.82 in the supply area before the bears took control.
Today’s 4-hour opening candle at $3.60 is a bearish spinning top followed by a bullish spinning top. An indication of a ranging scenario which was confirmed by the parallel nature of the signal of the stochastic oscillator at 80%.
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 is in consolidation in its short-term outlook. The large bullish railroad formed yesterday manage a push to $3.82 in the supply area which was the high of the day. The brief pullback by the bears set the cryptocurrency in consolidation as the price dropped to $3.60 – the low it attained on 18th March.
The two EMAs are twined and in a parallel line and indication of consolidation in the short-term. The stochastic oscillator signal points down an indication of downward momentum and bears dominance within the range.
EOSUSD is in consolidation and trading between $3.83 in the upper supply area and at $3.72 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
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