{"id":108656,"date":"2021-01-17T14:08:42","date_gmt":"2021-01-17T14:08:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108656"},"modified":"2021-01-17T14:08:42","modified_gmt":"2021-01-17T14:08:42","slug":"eos-is-range-bound-between-2-20-and-3-60-as-bulls-and-bears-are-undecided-about-the-next-move","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/eos-is-range-bound-between-2-20-and-3-60-as-bulls-and-bears-are-undecided-about-the-next-move\/","title":{"rendered":"EOS Is Range Bound between $2.20 and $3.60 as Bulls and Bears Are Undecided About the Next Move"},"content":{"rendered":"
EOS is in a range bound move as the altcoin consolidates above $2.50 support. Today, the price action is characterized by small indecisive candlesticks called Doji and Spinning tops.<\/strong><\/p>\n The candlesticks are describing that buyers and sellers are undecided about the direction of the market. In retrospect, buyers have not been able to push EOS above the $3.60 overhead resistance since August 2020. <\/p>\n In the same vein, the support at $2.20 has remained unbroken at the same time. This gives the impression that EOS has been ranging in a confined range. On the upside, a breakout at the $3.60 will propel the price to rally above $4 high. The bullish momentum can extend to a high of $5. The downtrend will resume if the bears break the support at $2. 20. The coin will decline to $1.80.<\/p>\n The 21-day and 50-day SMAs are horizontally flat which indicates that the coin is in a range bound move. EOS is at level 47 of the Relative Strength Index period 14. It suggests that the coin is in the downtrend zone and capable of falling.<\/p>\n <\/p>\n Key Supply Zones: $5, $6, $7 <\/b><\/p>\n <\/b><\/p>\n Key Demand zones: $3, $2, $1 <\/b><\/p>\n EOS is range-bound in a confined range as the coin is not trending. The Fibonacci tool has indicated the downward movement of the coin before the resumption of the uptrend. On January 11 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that EOS will fall to level 1.272 Fibonacci extensions. That is the market will reach the low of $1.967 and reverse.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.<\/i><\/p>\nEOS indicator reading <\/h2>\n
What is the next direction for EOS? <\/h2>\n