EOS Price Analysis – February 27

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  • The medium-term is in consolidation while the short-term outlook is in a bullish trend.
  • Traders may look to buy at pullback areas 

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOSUSD Price Medium-term Trend: Ranging

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

EOS continues in a range-bound market in its medium-term outlook. The bears pressure successfully broke the lower demand area twice on 25th and 26th february but the bulls repeatedly pushed EOSUSD back into the range. The bullish railroad formed yesterday signalled the bulls’ return.

The bulls are confirmed to be in chareg of the range as indicated by the bullish marubozus candle at $3.50  formed after today’s 4-hours opening doji candle. The price is above the 10-EMA and the stochastic oscillator signal points up at 44% suggests an upward momentum in the price of the cryptocurrency in the medium-term.

EOSUSD is in consolidation and trading between $4.00 in the upper supply area and at $3.50 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower area with a retest before a position is taken.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOS is in a bullish trend in its short-term outlook. The bearish pressure was lost at $3.37 in the demand area with the formation of long-tailed bearish candle. Confirmation to the bulls takeover occurred after the breakout from the 10-EMA at $3.50 shortly after today’s opening.

The breakout from the trendline signal continuation of the bullish pressure and journey up north. EOSUSD is already up at $3.67 in the supply and the mimentum may be sustained.

The price is above the 10-EMA  and the stochastic oscillator signal points up at 81% an indication of an upward momentum in price in the short-term.

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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