EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $6.00, $8.00, $10.00
- Demand zones: $2.00, $1.00, $0.50
EOS is in a range-bound trend in its medium-term outlook. The $4.00 mark is its upper limit the $3.5 mark is its lower limit. Yesterday’s trading session saw it dip to $3.77.
The bears’ dominance within the range seems to be established thanks to a large candle that opened today’s session at $3.84.EOS is down to $3.74 in the demand area. The break of the 10-day EMA by the bearish candle confirmed the bearish trend.
The Stochastic Oscillator signal is punting down at 43 and EOS’ price is below the 10-day EMA, further confirming the downward momentum. Traders should wait for a breakout or a breakdown before taking a position.
EOSUSD Price Short-term Trend: Ranging
EOS is consolidating in the short-term. The loss of bullish momentum at $4.00 coupled with the formation of a large bearish candle has pushed the price down. The cryptocurrency dropped to $3.74.
EOS’ price is hovering around its two EMAs, and the Stochastic Oscillator’s signal is undefined at 46, an indication of the current ranging scenario. A breakout or a breakdown may occur hence patience is required.
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