EOS Price Analysis – August 21


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EOS Price Analysis – August 21

eos-price-analysis-august-21

  • The medium and short-term outlook is in consolidation
  • Patience will be a good strategy to adopt to allow a defined trend after a breakout at the upper supply area or a breakdown at the lower demand area before taking a position.

EOS Chart by TradingView

EOSUSD Price Medium-term Trend: Ranging

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS returns to the range in its medium-term outlook. Rejection to downward price movement occurred at the area as the bullish spinning top was formed. The bullish 4-hour opening candle at $4.70 led to the upward movement of EOS price to $4.90 within the range.

EOS continues ranging and trading between $5.12 in the upper supply area and at $4.69 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower demand area to occur before taking a position.

EOSUSD Price Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The cryptocurrency enters the range in the short-term outlook. The bearish pressure pushed price down to $4.66 in the demand area as market rally yesterday. The opening 1-hour candle was bullish and the cryptocurrency was up $4.90 in the supply area.

Price is above the 10-day EMA with the stochastic oscillator at 38% with signal pointing up which is a reflection of bullish pressure within the range.

The cryptocurrency is ranging and trading between $5.00 in the upper supply area and at $4.70 in the lower demand area of the range. Traders should be patient and allow a breakout or breakdown occur before taking a position.

 

 

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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