EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is consolidating in its medium-term outlook. The formation of long-tail doji candle at $5.54 in the demand area implies exhaustion, as the markets ended yesterday on a bullish trend. EOS rose to $5.54 in the supply area but saw its advanced get rejected at the 10-day EMA.
With EOS’ price below its EMAs and the Stochastic Oscillator at 25, continuous downward momentum is implied. The crypto is ranging between $5.8 and $4.9. with a breakout or a breakdown being possible. Traders should, as such, be patience and wait for either to happen before entering a position.
EOSUSD Price Short-term Trend: Ranging
EOS is still trading within a range in its short-term outlook. Yesterday’s trading session saw a low of $5.02 in the demand area as the bears’ pressure weakened and the candle closed within its range. The bulls then managed to push EOS to $5.29.
In the short-term, $5.3 and $5.15 define EOS’ range, and a breakdown or a breakdown are possible. Traders should exercise patience.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
