EOSUSD Long-term Trend – Bullish

  • Distribution territories: $6.50, $7, $7.50
  • Accumulation territories: $3.50, $3, $2.50

The cryptocurrency market surged on April 2, in a move that saw EOS’ valuation go northwards as well. Before the crypto market went up, EOS was seeing short ranged price movements that had been going on since March 28, between the $4.5 and $4 marks.

EOS, EOSUSDEOS Chart by TradingView

The cryptocurrency managed to reach a $6 high on April 33 thanks to the crypto market’s performance so far this month. Both its SMAs are currently beneath its price line, with the 50-day SMA being below the 14-day SMA.

The Stochastic Oscillators are now close to the overbought zone, and EOS may soon start trading between the $5.5 and $4.5 marks, although a potential breakdown of the latter could see the cryptocurrency drop further.

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