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 bullish pressure pushed the price up to $6.33 in the supply area from $5.74 in the demand area. This was after the loss of the bearish momentum due to bullish railroad formation at the demand area.

EOS price is above the two EMAs with the10-day EMA acting as a strong support for uptrend continuation. The stochastic oscillator is at 57% and it signal points up which indicates upward movement in price of the cryptocurrency may occur due to the strong bullish pressure in the medium-term. $7.0 in the supply area may the be the bulls target.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency is in its bullish trend in the short-term outlook. The bulls returned at the 38.2 fib level and as predicted in yesterday analysis with price at $6.10 in the supply area before the close of yesterday market. The bullish pressure was sustained after today opening, EOS was up $6.33 in the supply area nicely in the 23.6 fib level, a trend continuation zone.

Price is above the two EMAs which implies bullish continuation 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

2018-08-31 20:30:14

Author

Azeez Mustapha

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