EOS Price Analysis – February 18

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  • The medium and short-term outlook is in a bullish trend.
  • Traders may look to buying at keys reversal areas

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOSUSD Price Medium-term Trend: Bullish

  • Supply zones: $9.00, $10.00, $11.00
  • Demand zones: $2.00, $1.00, $0.50

EOS continues in bullish trend in its medium-term outlook. The strong bullish pressure broke out of seemly prolong consolidation over the weekend. $3.00 in the supply area predicted was broken with a large bullish candle. EOSUSD rose initially to $3.17 and later to $3.20 in the supply area as the bullish momentum increased.

The large bullish candle is suggestive of upward price continuation. This was further confirmed with the price above the two EMAs, which are fanned apart an indication of strength in the context of the trend and in this case the uptrend.

The stochastic oscillator signal points up in the overbought region at 82%. These suggest an upward momentum in price in the medium term.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOS is in bullish trend in its short-term outlook. The upper supply area of the range at $3.03 was nicely broken after a bullish 1-hour opening candle.at $2.89. The bulls had kept the price above the two EMAs most times over the weekend. The cryptocurrency rose to $3.20 in the supply area.

The price remains above the two EMAs crossover which are fanned apart and the stochastic oscillator signal points up at 64% in the overbought region. These imply an upward momentum in price with a target at $3.50 in the supply area in the short-term as the momentum up north increase.

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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