EOS Price Analysis – January 2
- The bulls are in control of both the medium and short-term outlook.
- Responsible buying at key areas may be consider.
EOS chart by tradingviewEOSUSD Price Medium-term Trend: Bullish
EOS continues in a bullish trend in its medium-term outlook. The bulls sustained the momentum in the new year with a high of $2.76 in the supply area as the session came to an end on 1st January. Todays 4-hour candle opening bearish spinning top could not reverse the trend as the strong bullish pressure pushed EOSUSD to $2.84 in the supply area.
A bullish continuation pattern of inverse head and shoulder is EOSUSD structure in the medium-term. With price above the two EMAs crossover and the stochastic oscillator signal pointing up at 80% in the overbought region. These imply upward momentum in price of the cryptocurrency. $3.00 in the supply area is the bulls initial target.
EOSUSD Price Short-term Trend: Bullish
EOS chart by tradingviewEOS is in a bullish trend in its short-term outlook. The breakout from the upper supply area of the range occurred when the bullish candle at $2.73 pushed EOUSUSD up to $2.80 in the supply area. Increased bullish momentum led to a rise in price to $2.84 in the supply area.
Price is above the two EMAs crossover and the stochastic oscillator signal points up at 77% as the cryptocurrency as continues its journey up north.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
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