EOSUSD Price Medium-term Trend: Bearish
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is in a bearish trend in its medium-term outlook. $3.50 at the lower demand area of the range was nicely broken with a large bearish candle as the bears established their dominance in the market. The weekend saw a sideway market until today’s bearish 4-hour opening candle at $3.59 which broke the two EMAs and the price dropped initially to $3.50.
EOSUSD dropped further to $3.26 in the demand area as the bears kept the pressure up.
The price is below the two EMAs an indication of the bears increased momentum. The stochastic oscillator signal points down at 20%. This suggests a downward momentum in price in the medium-term.
$3.00 in the demand area may be retested by the bears as the pressure becomes much stronger and more candles opened and closed below the two EMAs.
EOSUSD Price Short-term Trend: Bearish
EOS is in a bearish trend in its short-term outlook. The bullish 1-hour opening pinbar candle had little impact as the price was up briefly at $3.61 in the supply area before the bears staged a comeback signaled by the bearish railroad.
Confirmation of the bears’ takeover occurred at the break of the two EMAs with a large candle as EOSUSd dropped to $3.50 in the demand area. Further bearish pressure pushed the price to $3.23 before the consolidation currently happening. This may lead to breakdown to confirm the downtrend continuation.
The price is below the two EMAs and the stochastic oscillator signal points down an indication of downward momentum in the short-term.
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