EOS price analysis for 29 April 2019; bear taking over bulls

EOS has been holding up during the chaotic environment in crypto space. EOS recently broke through the almost four point nine zero dollars ($4.90) of the upper supply area yesterday. Whereas in the supply area it sparked up to four point nine six dollars ($4.96 ).

Once EOS fell to the demand area with four point eight two dollars ($4.82 ) the broken supply area was subjected to a retest. The retest was to recheck the market correction and confirm that the increased market momentum will continue.

The increased market momentum did continue even after the market opened with a 4-hour chart at four point eight nine dollars ($4.89 ) and the price ascending and hitting the supply area at four point nine dollars ($4.90).

EOS price analysis for 29 April 2019; bear taking over bulls 2EOS price chart created with Trading View

A stochastic oscillator is a momentum indicator and it is showing sixty-seven percent (67%) with the price levels standing at above the ten exponential moving average. This is an indication that increased market momentum is gradually taking over.

The fifty exponential moving average with the price mark of four point nine dollars ($4.90) in the supply area may be the target for the increased market momentum. In the short term outlook of EOS, it has experienced an increased market momentum.

The upper supply area which is standing at four point eight seven dollars ($4.87) was broken thrice and retested as well in an attempt to increase the market momentum

The increased market momentum is stable at four point nine dollars ($4.90) making EOS’s value to ascend at four point nine three dollars ($4.93) in the supply area. Right now four point nine eight dollars ($4.98) is expected as the market momentum proceeds to increase