EOSUSD Long-term Trend – Bullish
- Distribution territories: $5, $5.50, $6
- Accumulation territories: $3, $2.50, $2
On March 27, EOS’ value suddenly went up against that of the US dollar, and the move has seen it steadily increase. The cryptocurrency is currently trading over the $4 mark, after coming from a range between the $4 and $3.5 marks.
Its 14-day SMA was defining the upper limits of its range while the 50-day SMA was defining the lower limits. The Stochastic Oscillators recently dipped into the overbought zone, which could be an indication the bullish movements are starting to turn into consolidation.
The cryptocurrency may keep its momentum until it reaches its 14-day SMA, but if it is broken it may turn EOS down headed to its 50-day SMA. The bulls may however build up their position around the 14-day SMA.
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