Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
- EOS price is trading in a bearish zone below the $0.80 support against the US Dollar.
- The price is now trading above $0.66 and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance near $0.660 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to rise toward the $0.75 and $0.78 resistance levels.
EOS price is struggling below $0.80 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.75.
EOS Price Analysis
In the past few sessions, EOS price range moves below the $0.65 resistance against the US Dollar. The price remained stable above the $0.590 and $0.600 support levels.
A low is formed near $0.5987 and the price is now attempting an upside correction. There was a move above the $0.630 and $0.650 resistance levels. Besides, there was a break above the 23.6% Fib retracement level of the downward move from the $0.9040 swing high to the $0.5987 low.
There was also a break above a key bearish trend line with resistance near $0.660 on the 4-hour chart of the EOS/USD pair. The price is now trading above $0.66 and the 55 simple moving average (4 hours).
On the upside, immediate resistance is near the $0.75 level or the 50% Fib retracement level of the downward move from the $0.9040 swing high to the $0.5987 low. The next major resistance is near the $0.780 level, above which the price might test the $0.80 level. Any more gains might send the price toward the $0.900 level.
On the downside, immediate support is near the $0.675 level. The next key support is near the $0.64 level. If there is a downside break below the $0.640 support, the price could test the $0.60 support in the near term.
EOS Price
Looking at the chart, EOS price is now trading above the $0.66 level and the 55 simple moving average (4 hours). Overall, the price could continue to rise toward the $0.75 and $0.78 resistance levels in the near term.
Technical indicators
4 hours MACD – The MACD for EOS/USD is gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Major Support Levels – $0.675 and $0.640.
Major Resistance Levels – $0.750 and $0.780.
Source: Read Full Article