EOS Price Analysis – September 18
EOS has been moving within the range of $4.0 and the coin seems to be headed towards exponential growth and may make sudden leaps in the next few days.
Supply levels: $4.5, $4.7, $4.9
Demand levels: $3.3, $3.1, $2.9
The EOS/USD price is moving towards an upward formation after having some bullish sessions as soon as this month begins. The EOS/USD has increased from $3.22 to where it is trading presently at $4.0. The price is trading far above the moving averages of 9-day and 21-day. The stochastic RSI is moving within the overbought condition, which may result in downtrend soon.
Moreover, the trading volume is rising and if the EOS/USD tried to maintain the bullish movement, the bulls ay likely reach the supply levels of $4.5, $4.7 and $4.9. More so, should the price of the EOS fluctuate parallel to the chart, this could bring it back to the demand levels of $3.3, $3.1 and $2.9 respectively.
Against Bitcoin, the coin is still moving above the moving averages with a strong bullish candle and has since been trading above the trend line. The next key supply level could be 4100 SAT resistance and above. The stochastic RSI moves within the overbought which could suggest a possible drop later; 3400 SAT and 3200 SAT demands are in view.
Meanwhile, a rebound from the above demands could send the EOS price to 4200 SAT supply and above. But come to think of it, breaking the mentioned demand may drop the price to the new low of the month and send EOS in a bearish zone. However, the trading volume confirms a strong bullish move.
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