EOS Long-term Price Analysis - December 22

- Dec 22nd 4:30 pm

EOSUSD Long-term Trend - Bullish

  • Distribution territories: $4, $5, $6
  • Accumulation territories: $1.50, $1, $0.50

EOS’ price has managed to break its past $2 to $1.5 range northward on December 17. The cryptocurrency managed to move up and trading sessions have gotten as far as testing the $3 territory on December 19.

EOS Chart by TradingView

The cryptocurrency’s price is now over the 14-day SMA’s trend line, around the $2.5 territory. The 50-day SMA is located above the 14-day SMA and the latter has started moving northwards around the $2 mark.

The Stochastic Oscillators have slightly crossed at range 80 to suggest the bulls are getting weak in the market. Currently, it has become apparent the immediate territory of $1.50 is crucial in the cryptocurrency’s bullish trend.

EOS’ price may now start ranging within the gap made between the 14-day and 50-day SMA’s for a while, until  strong price movements occur.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.