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 trading within a range in its medium-term outlook. The bears controlled the cryptocurrency’s trading sessions during the weekend, at it dropped from $3.76 to about $3.63 as both its EMAs were broken.
EOS’ price is currently below its EMAs, and its Stochastic Oscillators is pointing down at 31, which suggests there’s strong bearish pressure influencing the cryptocurrency. It’s currently consolidating between the $3.9 and $3.55 marks, meaning traders should weak for a breakdown or a breakout to take a position.
EOSUSD Price Short-term Trend: Bearish
In the short-term, EOS is in a bearish trend. The cryptocurrency saw the bears take over when it was trading slightly over the $3.7 mark, as the bulls’ momentum was exhausted. The takeover was signaled by the price falling below its EMAs.
The journey down south toward the lowest end of EOS’ range is possible, as the Stochastic Oscillators’ signal is pointing down. The $3.6 mark may be retest as bearish pressure keeps mounting.
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