EOS started a fresh decline after a close below the .000 support against the US Dollar.The price is trading well below the .600 support and the 55 simple moving average (4-hours).There is a key bearish trend line forming with resistance near .550 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair could correct higher, but upsides are likely to face hurdles near .550 and .600.EOS price is back in a bearish zone below .500 against the US Dollar, similar to bitcoin. The price is continue lower below .400 as long as it is below the .600 support.EOS Price AnalysisEOS price started a fresh decline from the .750 and .800 resistance levels against the US Dollar. There was a break below the .600 support level and the price moved into a bearish zone.The
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- EOS started a fresh decline after a close below the $3.000 support against the US Dollar.
- The price is trading well below the $2.600 support and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $2.550 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could correct higher, but upsides are likely to face hurdles near $2.550 and $2.600.
EOS price is back in a bearish zone below $2.500 against the US Dollar, similar to bitcoin. The price is continue lower below $2.400 as long as it is below the $2.600 support.
EOS Price Analysis
EOS price started a fresh decline from the $2.750 and $2.800 resistance levels against the US Dollar. There was a break below the $2.600 support level and the price moved into a bearish zone.
The bears remained in action, resulting in a break below the $2.500 support. The price traded to a new weekly low at $2.394 and it settled well below the 55 simple moving average (4-hours). It is currently consolidating losses above the $2.400 level.
An initial resistance on the upside is near the $2.450 level or the 23.6% Fib retracement level of the recent decline from the $2.775 high to $2.394 low. The first major resistance on the upside is near the $2.550 level.
The main resistance is now forming near the $2.600 level. There is also a key bearish trend line forming with resistance near $2.550 on the 4-hours chart of the EOS/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $2.775 high to $2.394 low.
To move into a positive zone, the price must climb above the $2.550 and $2.600 resistance levels. Conversely, the price might continue to move down below $2.400.
An initial support on the downside is near the $2.320 level. The first key support is near the $2.225 level, below which the price may perhaps revisit the $2.000 support zone.
EOS Price
Looking at the chart, EOS price is clearly trading well below the $2.600 support and the 55 simple moving average (4-hours). Overall, the price could correct higher, but upsides are likely to face hurdles near $2.550 and $2.600 in the near term.
Technical indicators
4-hours MACD – The MACD for EOS/USD is now gaining pace in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well below the 40 level.
Major Support Levels – $2.400 and $2.225.
Major Resistance Levels – $2.550 and $2.600.