EOSUSD Price Medium-term Trend: Bullish
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS is in a bullish trend in the medium-term outlook. The strong bullish pressure was sustained as the upper supply area of yesterday’s range was broken at $5.30 with a large engulfing candle that pushed the price to $5.43. A retest of the broken supply-turned demand area occurred with the bearish 4-hour opening candle before the continued bullish momentum.
The price is above the two EMA crossover and the stochastic oscillator is 84% in the overbought region. The bulls are on the ground and an upward movement of price of the cryptocurrency may occur in the medium–term with a target at $5.80 in the supply area.
EOSUSD Price Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in the short-term outlook. The upper supply area of yesterday’s range at $5.19 was broken with a large bullish engulfing candle. The price was further up at $5.43 in the supply area yesterday.
A minor pullback to $5.30 in the demand area due to the bears’ pressure occurred but failed to break the 10-day EMA. The price is above the two EMAs crossover with the stochastic oscillator at 72% and its signal pointing up. This implies sustained bullish pressure as the journey north builds up.
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