EOS Price Analysis – March 20

• The medium-term outlook is in consolidation while the short term is in an uptrend.
• Responsible buying may be considered.

EOS chart by TradingView

EOSUSD Price Medium-term Trend: Ranging

EOS continues in a range-bound market its medium-term outlook. The bears had a nice ride down south with the breaking of the two EMAs as EOSUSD dropped to $3.60 in the demand area within the range.

The price is above the two EMAs and the stochastic oscillator signal is pointing up at 56%. This suggests that the bulls may resume the move to the upper supply area of the range.

EOSUSD is in consolidation and trading between $3.90 in the upper supply area and at $3.50 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower area with a retest before a position is taken. 

EOSUSD Price Short-term Trend: Bullish

EOS chart by TradingView

EOS continues in a bullish trend in its short-term outlook. The bulls managed to push the price up to $3.82 before the brief consolidation. Today’s opening candle, a bearish doji was followed by a large bearish candle which signals the bears' takeover of the market.

EOSUSD dropped to $3.60 in the demand area with a large bearish engulfing. The formation of a bullish railroad suggests that the bulls are back and upward price movement to the bulls target at $3.90 in the supply area is probable in the short-term.

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