EOSUSD Price Medium-term Trend: Bullish
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
EOS is in a bullish trend in its medium-term outlook. The bulls returned at $4.93 in the demand area before the end of yesterday’s session as the bears’ pressure weakens. EOS was within the two EMAs an indication of an up trending market.
Today’s 4-hour opening candle at $5.11 closed above the 10-EMA an indication of resumption of uptrend continuation in the medium-term. EOS is up at $5.43 in the supply area.
The price is above the two EMAs, which are fanned apart an indication of strength in the trend and in this case the uptrend while the stochastic oscillator signal is pointing up which implies upward price movement.
$6.50 in the supply area may be retested as bulls continue to push price higher with more candles opened and closed above the two EMAs.
EOSUSD Price Short-term Trend: Bullish
EOS remains in a bullish trend in its short-term outlook. The bearish pressure was weaken at $4.90 in the demand area as a correction to the bullish impulsive movement ended with a bullish spinning top.
Continuation of the upward movement was confirmed with the break at the two EMAs crossover at $5.11.EOS is already up at $5.43 in the supply area with minor pullback currently in place before the resumption of uptrend continuation.
$6.00 in the supply area may be retested as the bulls gather up momentum for upward continuation in the short-term.
The stochastic oscillator signal points up at 41% and price is above the 50-EMA an indication of strong buyers presence in the market.
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