{"id":171423,"date":"2023-02-23T07:26:00","date_gmt":"2023-02-23T07:26:00","guid":{"rendered":"https:\/\/precoinnews.com\/?p=171423"},"modified":"2023-02-23T07:26:00","modified_gmt":"2023-02-23T07:26:00","slug":"eos-price-analysis-risk-of-downside-break-emerges","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/eos-price-analysis-risk-of-downside-break-emerges\/","title":{"rendered":"EOS Price Analysis: Risk of Downside Break Emerges"},"content":{"rendered":"
EOS price is declining from $1.315 against the US Dollar, similar to bitcoin. The price could accelerate lower if there is a clear move below the $1.145 support.<\/em><\/p>\n This past week, EOS price climbed further higher above the $1.25 resistance zone against the US Dollar. The price surpassed the $1.30 level and settled above the 55 simple moving average (4-hours).<\/p>\n A new yearly high was formed near $1.3136 before the price started a downside correction. The price declined below the $1.265 support to move into a short-term bearish zone. The pair even tested the 50% Fib retracement level of the upward move from the $1.038 swing low to $1.313 high.<\/p>\n It is now trading above $1.18 and the 55 simple moving average (4-hours). On the downside, an immediate support is near the $1.175.<\/p>\n The next key support is near the $1.145. It is near the 61.8% Fib retracement level of the upward move from the $1.038 swing low to $1.313 high. If there is a downside break below the $1.145 support, the price could revisit the $1.055 support.<\/p>\n On the upside, an immediate resistance is near the $1.240 level. There is also a key declining channel forming with resistance near $1.24 on the 4-hours chart of the EOS\/USD pair.<\/p>\n The first major resistance is near the $1.25 level, above which the price could rise steadily. The main resistance is still near $1.315. A clear move above the $1.315 level might call for more upsides. In the stated case, it could rise towards the $1.35 level. Any more gains might send the price towards the $1.385 level.<\/p>\n <\/p>\n EOS Price<\/p>\n Looking at the chart, EOS price is now trading above the $1.18 level and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to stay above the $1.145 support zone.<\/p>\n 4-hours MACD \u2013 The MACD for EOS\/USD is losing pace in the bullish zone.<\/p>\n 4-hours RSI (Relative Strength Index) \u2013 The RSI is now above the 50 level.<\/p>\n Major Support Levels \u2013 $1.175 and $1.145.<\/p>\n Major Resistance Levels \u2013 $1.25 and $1.315.<\/p>\nEOS Price Analysis<\/h2>\n
Technical indicators<\/h2>\n