EOSUSD Price Medium-term Trend: Ranging
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is still consolidating in its medium-term outlook. A large bearish candle at $4.82 broke the lower demand area of the range before the end of yesterday’s trading session. $4.53 ended up being the day’s low
With a bullish 4-hour opening candle at $4.60, the bulls pushed EOS’ price up to $4.98 in the supply area breaking the upper price range, but showed exhaustion later on. The price is now below both EMAs with the Stochastic Oscillator being at 21, an indicating of the continuous ranging trend.
EOS is trading between $4.90 and $4.63. A breakout or a breakdown may occur and as such traders are advised to remain patient before entering a position.
EOSUSD Price Short-term Trend: Ranging
EOS is in a range-bound trend in its short-term outlook. The cryptocurrency’s bears managed to break the range’s lower demand area, but failed to continue. A bullish hammer at $4.5 signaled the bulls took over.
The $4.67 mark in the supply area was EOS’ high. Its price is still over its 10-day EMA, with an indication suggesting upward momentum. Its range is now between $4.87 and $4.7, with a breakout or breakdown being possible.
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