EOS Price Analysis – October 23
- Both the medium and short-term outlook is in a range-bound market.
- Traders should be patient at this period of consolidation.
EOS Chart by TradingViewEOSUSD Price Medium-term Trend: Ranging
Supply zones: $9.00, $10.00, $11.00
Demand zones: $3.00, $2.00, $1.00
EOS continues in the range in its medium-term outlook. The bear pressure within the range was more pronounced with EOSUSD down to $5.43 in the demand area before the end of yesterday. A doji candle was today's 4-hour opening but was followed by a bearish candle to confirm the bears continued dominance within the range.
The price is below the two EMAs and the stochastic oscillator is in the oversold region at 14% with its signal is pointing down which implies downward momentum within the range.
ETH is in consolidation and trading between $5.70 in the upper supply area and at $5.10 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area may occur hence patience is required before taking a position with good reversal candles as confirmation in either way.
EOSUSD Price Short-term Trend: Ranging
EOS Chart by TradingViewEOS is in consolidation in its short-term outlook. $5.55 was the high the bulls pressure could go for EOSUSD yesterday before the bears staged a return with the bearish hammer at $5.54. $5.53 in the supply area was the high EOSUSD attained earlier today due to the bullish 1-hour opening candle. The bears are back at $5.44 in the demand area.
The price remains below the two EMAs and the stochastic oscillator is at 23% with its signal pointing down. It suggests downward price movement within the range in the short-term.
EOSUSD is in consolidation and trading between $5.65 in the upper supply area and at $5.40 in the lower demand area of the range. Traders should be patient at this period and wait for a breakout at the upper supply area or breakdown at the lower demand area before entry.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
Article comments