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EOS Price Analysis – April 4 Bullish

EOS 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 is in a bullish trend in its medium-term outlook. The bulls sustained the upward momentum with a push-up at $5.99 in the supply area against the predicted $6.00. EOS dropped to $4.82 as a correction to the impulsive move by the bears.

Today’s 4-hour opening candle at $5.24 closed as inverted dragonfly doji above the two EMAs, an indication that the bulls are back.

EOS is already up at $5.32 in the supply area as the bullish pressure builds up in the medium-term.

The price is above the two EMAs, which are fanned apart an indication of strength in the trend and in this case the uptrend while the stochastic oscillator signal points down which suggest a divergence. This suggests that a minor drawdown may occur.

$6.50 in the supply area is the bulls target in the supply area retested with more candles opened and closed above the two EMAs.

EOSUSD Price Short-term Trend: Bullish

EOS chart by TradingView

EOS continues in a bullish trend in its short-term outlook. After pushing price to $5.99 in the supply area, the bulls briefly lost momentum as indicated by the wick in the candle. The drawdown to $4.32 in the demand area happened late yesterday.

The long-tailed 1-hour bearish candle at $5.27 of today’s opening session signaled a reversal, as the bulls stage a comeback in the short-term.

The stochastic oscillator signal points up at 41% and price is above the 50-EMA an indication of strong buyers presence in the market.

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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.

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