in ,

EOS Long-term Price Analysis – April 6 Bullish

EOSUSD Long-term Trend – Bullish

  • EOS may soon start trading between the $5.5 and $4.5 marks
  • A potential breakdown of the latter could see the cryptocurrency drop further.
  • Distribution territories: $6.50, $7, $7.50
  • Accumulation territories: $3.50, $3, $2.50

The cryptocurrency market surged on April 2, in a move that saw EOS’ valuation go northwards as well. Before the crypto market went up, EOS was seeing short ranged price movements that had been going on since March 28, between the $4.5 and $4 marks.

EOS Chart by TradingView

The cryptocurrency managed to reach a $6 high on April 33 thanks to the crypto market’s performance so far this month. Both its SMAs are currently beneath its price line, with the 50-day SMA being below the 14-day SMA.

The Stochastic Oscillators are now close to the overbought zone, and EOS may soon start trading between the $5.5 and $4.5 marks, although a potential breakdown of the latter could see the cryptocurrency drop further.

What do you think?

345 points
Upvote Downvote

Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

Ethereum (ETH) Long-term Price Analysis –– April 6 Bullish

Bitcoin Price Defending All Its Gains – Turning point