EOSUSD Long-term Trend – Bearish
- Distribution territories: $6.50, $7, $7.50
- Accumulation territories: $4, $3.50, $3
The price of EOS has been under selling pressure for the whole week. The crypto began the first few trading sessions by dropping from a $5.5 high, but has since started dropping, so much so it’s currently close to the 50-day SMA and $4.5 mark.
The 14-day SMA is currently over EOS’ price. The Stochastic Oscillators dipped into the oversold zone, and are seemingly starting to consolidate close to rang 20. Currently EOS is ranging between the $5 and $4 marks.
A breakout over the $5 mark could see EOS’ gains go as far as $6.5, while a breakdown of the 50-day SMA could bring the cryptoasset close to the $3.5 mark, or even lower.
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