EOSUSD Price Medium-term Trend: Bullish

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS continues in its bullish trend in the medium-term outlook. The strong bullish pressure broke the target at $5.80 of yesterday analysis and pushed further to $6.04 in the supply area before the market close yesterday. The bears had a minor pullback as the market opened. The cryptocurrency was briefly down to $5.78 in the demand area. Price was up $6.24 in the supply area.

EOS price is above the two EMA’s and they are fanned apart which implies strength in the context of the uptrend. The stochastic oscillator is in the overbought region at 80% and it signals up which implies upward momentum in price of the cryptocurrency in the medium-term above.

Higher highs and higher lows are seen formed which is characteristic of an up-trending market. $6.50 in the supply area may be the bulls target in the medium-term.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency remains in its bullish trend in the short-term outlook. $6.04 in the supply area was the high made before the bears set in and dropped the cryptocurrency down to $5.78 in the demand area. The pinbar at the demand area returned the bulls and price was up $6.24 in the supply area.

The stochastic oscillator is in the overbought region at and it signal points up which reflect bullish pressure in the short-term.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Original Post

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Published on

2018-08-29 19:35:26

Author

Azeez Mustapha

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