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 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.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.