EOS Price Analysis – April 29

  • The short and medium-term outlook is in the uptrend.
  • The break of the upper supply area of the range confirms the bullish continuation.

EOS, EOSUSD,EOS chart by TradingView

EOSUSD Price Medium-term Trend: Bullish

  • Supply zones: $9.00, $10.00, $11.00
  • Demand zones: $2.00, $1.00, $0.50

EOS is in the uptrend in its medium-term outlook. The strong bullish pressure broke $4.90 of the upper supply area of the range shortly after yesterday's opening. EOS rose to $4.96 in the supply area. A retest of the broken supply area occurred as EOS dropped to $4.82 in the demand area. This serves as a market correction and a confirmation of the bullish continuation.

The bulls sustained the upward momentum as the market opened today with a 4-hour candle at $4.89 and the price already up at $4.90 in the supply area.

The stochastic oscillator signal points up at 67% with theprice above the 10-EMA an indication of bulls gradual takeover.

The 50-EMA with price at $4.90 in the supply area may serve as initial target for the bulls as it journey north in the medium-term

EOSUSD Price Short-term Trend: Bullish

EOS, EOSUSD,EOS chart by TradingView

EOS is in a bullish trend in its short-term outlook. The upper supply area at $4.87 of the range was broken three times and retested over the weekend due to increased bullish momentum. $4.96 in the supply area was the high on 28th April. 

The bullish momentum was sustained after today’s opening at $4.90 with EOS already up at $4.93 in the supply area.

The price is above the two EMAs an indication of buyers’ presence while the stochastic oscillator signal points up at 66% an indication of upward momentum in price in the short-term.

$4.98 is the upper supply area is on the card as the bullish pressure becomes stronger and more candles opened and closed above the EMAs.

 

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