EOS Long-term Price Analysis – February 23

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EOSUSD Long-term Trend – Bullish

  • Distribution territories: $5, $5.50, $6
  • Accumulation territories: $2, $1.50, $1

EOS’ price has been slowly rising against the US dollar since February 18. The crypto has been trading close to the $4 mark, although below it. This, after trading below $3 for a couple of months.

EOS, EOSUSD, Cryptocompare chartEOS Chart by TradingView

The 14-day SMA is currently located above the 50-day SMA. The Stochastic Oscillators are pointing north after crossing within the overbought zone, which suggests we may be seeing more ups than downs in the near future. We may stop seeing this trend if EOS eventually drops below $2.5.

While EOS is still consolidating however, it may keep on moving northward, up to the immediate distribution territory of $5. Traders are advised to back up their potential positions with strong price action.

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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