EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is consolidating in its medium-term outlook. Exhaustion at $5.21 in the demand area implies bearish momentum has been dropping, as shown by a bearish candlestick seen on April 15. Bullish pressure saw the crypto’s price go past its EMAs and hit $5.57 during yesterday’s trading session.
With a bearish spinning top as the opening 4-hour candle at $5.54, the bears may have taken control of the cryptocurrency and forced it to go down. EOS is currently ranging between $5.8 and $4.9. A breakdown or a breakout could occur and, as such, patience is required.
EOSUSD Price Short-term Trend: Ranging
EOS is range-bound in its short-term outlook. The bottoms at $5.24 and $5.31 on April 15 and 16 respectively gave the bulls control the market once more, with the price then rising to $5.61 as a result.
Increased momentum dropped EOS at $5.48 below the 10-day EMA. With the signal of the Stochastic Oscillator pointing down to 50, there’s a suggestion a continuous downward movement in EOS’ price could be seen
It’s trading between $5.66 and $5.26. A breakout or a breakdown may occur, and as such traders should avoid entering positions before being sure.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.