- The EVMOS token price is trading above the supply zone, after a sudden rise from the demand zone.
- The EVMOS token price has gone past the supply zone, giving a breakout of the rounding Bottom pattern on a daily time frame.
- The pair of EVMOS/BTC is trading at the price level of 0.00013 with an increase of 13.41% in the past 24 hours.
The EVMOS token price, as per the price action, is super bullish. Despite the recent bearishness, the token price has stormed past the supply zone. The token price has started forming higher high and higher low formation on a daily time frame. The EVMOS token price broke the supply zone with a strong bullish candlestick pattern on a daily time frame. Before the breakout of the supply zone, the token price was in a strong consolidation phase. As a result, the token price showed a strong bullish momentum continuing the upward move without any retest. Therefore a retest of the breakout zone before the further bullish move is bound to happen. The EVMOS token price is currently trading above the 25 and 14 Moving Average and Simple Moving Average respectively. Moving upwards the token price can be seen resting at these MAs. The EVMOS token price is currently trading at the upper band of the Bollinger band indicator. Volumes have soared as the token price rose, therefore investors should remain cautious as the token price can be expected to stay volatile in the upcoming trading days.
The EVMOS token price has given a rounding bottom pattern breakout
Average Directional Movement Index: ADX curve has been rising on a 4-hour time frame as the token continues to fall. In an hourly time frame, the ADX curve has dipped out of the 40 mark and has turned upwards. As seen in the 4-hour time frame the ADX curve has risen above the zone indicating strong bullishness. As the token price hovers above the supply zone, the ADX curve is still pointed upside. Investors should wait for a retest and bounce back of the demand zone with a positive candle formation.
Relative Strength Index: RSI curve is trading at the level of 80.75. The RSI curve has crossed the halfway mark of 50. Once the token starts moving up after the retest, the RSI curve can be seen moving up with strong bullish momentum. The RSI curve has crossed the 14 EMA yellow line indicating a short-term bullishness. Recent bullishness has pushed the price up rapidly, as the RSI curve rose above 80. Although investors should remain cautious as the RSI curve has neared the overbought zone.
Moving Average Convergence Divergence: The EVMOS token price rose above the supply zone with strong bullish momentum. As a result, the MACD indicator turned positive. The blue line crossed the orange line on the upside. Once the token price starts falling for a retest, the MACD line can be seen touring each other.
CONCLUSION: The EVMOS token price has stormed through the supply zone with strong bullish pressure. The technical parameters are also bullish as it depicts the token price movement. Investors should remain cautious and wait for a retest of the breakout zone.
SUPPORT: $2.05 and $2.1
RESISTANCE: $3.0 and $3.4
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.