{"id":128345,"date":"2021-06-10T10:10:00","date_gmt":"2021-06-10T10:10:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=128345"},"modified":"2021-06-10T10:10:00","modified_gmt":"2021-06-10T10:10:00","slug":"eos-price-analysis-risk-of-more-losses-below-4-5","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/eos-price-analysis-risk-of-more-losses-below-4-5\/","title":{"rendered":"EOS Price Analysis: Risk of More Losses Below $4.5"},"content":{"rendered":"
EOS price is struggling to recover above $6.00 against the US Dollar, unlike bitcoin. The price must clear $6.00 to move into a positive zone.<\/em><\/p>\n After a failed attempt to clear the $8.0 resistance, EOS price started a fresh decline against the US Dollar. The price traded below many supports near $6.00 to move into a bearish zone.<\/p>\n There was also a break below the $5.50 support level and the 55 simple moving average (4-hours). The price traded as low as $4.53 and it is currently correcting higher. There was a break above the $4.80 and $5.00 resistance levels.<\/p>\n The price is now testing the 23.6% Fib retracement level of the recent decline from the $7.70 high to $4.53 low. However, it is facing a lot of hurdles near the $5.50 and $6.00 levels.<\/p>\n There is also a key declining channel forming with resistance near $5.50 on the 4-hours chart of the EOS\/USD pair. The next major resistance is near the $6.00 level and the 55 simple moving average (4-hours). The 50% Fib retracement level of the recent decline from the $7.70 high to $4.53 low is also near the $5.10 level.<\/p>\n A clear break above the $5.50 and $6.00 resistance levels could open the doors for a steady increase. If there is an upside break above the $6.00 zone, the price could start a fresh surge towards the $8.00 level.<\/p>\n On the downside, an initial support is near the $5.00 level. The next major support is near the $4.50 level. Any more losses might call for a test of the $3.70 support zone.<\/p>\n <\/p>\n EOS Price<\/p>\n Looking at the chart, EOS price is currently trading well below $6.00 and the 55 simple moving average (4-hours). Overall, the price must break $5.50 and $6.00 to start a strong increase in the near term.<\/p>\n 4-hours MACD \u2013 The MACD for EOS\/USD is still in the bearish zone.<\/p>\n 4-hours RSI (Relative Strength Index) \u2013 The RSI is struggling to move above the 50 level.<\/p>\n Major Support Levels \u2013 $5.00 and $4.50.<\/p>\n Major Resistance Levels \u2013 $5.50 and $6.00.<\/p>\nEOS Price Analysis<\/h2>\n
Technical indicators<\/h2>\n