In this EOS price outlook, the EOSUSD pair is in on a bearish trend in the short and medium-term outlook.
EOS Price Outlook
The price of EOS is in a downward trend in its medium-term outlook. On April 23, the market opened with the bearish pinbar formation in the supply area of $5.54 as bears were in control of the market. A complete confirmation of the takeover appeared at the break of the 10- Exponential Moving Average (EMA) prior to the end of the trading session. An engulfing candle broke the lower demand area at $4.90 as EOS price fell to $4.81.
The 2 EMAs are separated, which indicates strength in the trend as the bears continue the downtrend. The stochastic oscillator signal in the oversold region points down at 13% to suggest a continuous downtrend as more candle open and closed below the EMAs.
EOSUSD Price Short-term Outlook
The price of the EOSUSD is in a downward trend in its short-term outlook. The ongoing bearish trend was lost briefly at $5.02 shortly after opening. This opened the doors for the bulls, as they pull the price up to $5.19 in the supply area. This, however, created the bearish flag as EOS price fell to the demand area of $4.81.
Another price drop is imminent in the short-term as the bears’ target $4.60 in the demand area. The signal of the stochastic oscillator in the oversold region points down to confirm this.
- Supply zones: $9.00, $10.00, $11.00
- Demand zones: $2.00, $1.00, $0.50
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The Information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.