EOSUSD Price Medium-term Trend: Bullish
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS continues in a bullish trend in its medium-term outlook. The touch at the trendline at $5.38 in the demand area after the bearish exhaustion returned the bulls. $5.71 in the supply area was the high attained as the bulls put pressure on the price.
The bullish momentum was sustained at today’s 4-hour bullish opening candle at $5.59 as EOS was up at $5.96 and later to $6.02 in the supply area.
The price is above the two EMAs that are fanned apart while the stochastic oscillator signal points up at 86%. These indicate that the price may continue the upward movement in the medium term.
$6.30 in the supply area may be retested as the bulls kept the pressure up.
EOSUSD Price Short-term Trend: Bullish
EOS is in a bullish trend in its short-term outlook. The bullish pressure remained strong with the formation of new highs and lows each day. $5.71 in the supply area was the high attained before the end of yesterday. Today’s 1 hour opening session was a hammer an – indication of the bulls’ return.
EOS is already at $6.07 in the supply area as the bulls kept price above the two EMAs.
The EMAs are fanned part which connotes strength in the context of the trend and in this case the uptrend. The stochastic oscillator signal points up at 89% in the overbought region an indication of upward momentum
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