EOSUSD Medium-term Trend: Ranging
Supply zones: $16.00, $17.00, $18.00
Demand zones: $11.00, $10.00, $0.9000
Eos continues ranging in the medium-term outlook. The asset broke out of yesterday’s upper supply range at $14.04 due to an increased bullish momentum. The price got to $14.79 and a resistance for a further upward price move was seen in this area, paving the way for the bears’ return. The bears pushed the price low to the demand area at $13.58. The stochastic oscillator is at 30% and its signal is pointing down. This suggests a downward momentum, thus the bears could take the price further down. Eos is trading within the upper supply area at $14.79 and the lower demand area at $13.00. Patience is recommended while the cryptocurrency is in the range.
EOSUSD Short-term Trend: Bearish
The cryptocurrency continues to range in the medium-term outlook. The movement from the demand area at $13.55 to the supply area at $14.50 was overpowered by the bears as they pushed the price back to $13.10 in the demand area. The fight for market control continues. Traders should be patient and wait for a breakout or a breakdown before taking a position.
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