EOSUSD Long-term Trend – Ranging
- Distribution territories: $7, $7.50, $8
- Accumulation territories: $4, $3, $2
The ETHUSD market has been mostly keeping a range move around the $5.50 mark. The trend-line of the 14-day SMA has also been found along the aforementioned price point.
The 50-day SMA is situated around $4.50 below the range zones. The Stochastic Oscillators have slantingly bent to point south-east slightly over range 40. That could mean an indication of expecting to see a continuation in the on-going range price movements of the crypto-trade. Being as it is, trade territories between $6 and $5 marks have been taken as the actual range spots around which the market has now been hovering. The upper range needs to be broken northwards, and also the bulls must sustain such breakout above the point to consolidate their stance in the market.
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