EOS price started a fresh increase from the .250 support area against the US Dollar.The price gained momentum above the .500 resistance and the 55 simple moving average (4-hours).There was a break above a crucial bearish trend line with resistance near .420 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair could correct lower, but there are many supports near .600 and .500.EOS price is trading in a positive zone above .500 against the US Dollar, similar to bitcoin. It seems like the bulls are aiming an upside break above the .700 and .800 resistance levels.EOS Price AnalysisEOS price formed a strong support base above the .225 and .300 levels against the US Dollar. The price remained well bid and started a steady upward move above the .400
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- EOS price started a fresh increase from the $2.250 support area against the US Dollar.
- The price gained momentum above the $2.500 resistance and the 55 simple moving average (4-hours).
- There was a break above a crucial bearish trend line with resistance near $2.420 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could correct lower, but there are many supports near $2.600 and $2.500.
EOS price is trading in a positive zone above $2.500 against the US Dollar, similar to bitcoin. It seems like the bulls are aiming an upside break above the $2.700 and $2.800 resistance levels.
EOS Price Analysis
EOS price formed a strong support base above the $2.225 and $2.300 levels against the US Dollar. The price remained well bid and started a steady upward move above the $2.400 and $2.500 resistance levels.
There was a proper close above the $2.500 level and the 55 simple moving average (4-hours). More importantly, there was a break above a crucial bearish trend line with resistance near $2.420 on the 4-hours chart of the EOS/USD pair.
The pair even broke the $2.600 resistance and traded as high as $2.704. It is currently consolidating gains near the $2.650 level. An initial support is near the $2.600 level, plus the 23.6% Fib retracement level of the recent rally from the $2.331 low to $2.704 high.
If there is a downside correction below $2.600, the price could test the $2.500 support level. It is close to the 50% Fib retracement level of the recent rally from the $2.331 low to $2.704 high.
The next major support is near the $2.450 level and the 55 simple moving average (4-hours). On the upside, the price is facing a short-term hurdle near the $2.700 and $2.800 levels. If there is a close above the $2.800 level, the price could rise towards the $3.000 resistance zone.
Any further gains could open the doors for a larger upward move towards the $3.200 level or the $3.325 barrier in the coming sessions.
EOS Price
Looking at the chart, EOS price is clearly trading in a positive zone near the $2.650 level. It could correct lower, but there are many supports near $2.600 and $2.500.
Technical indicators
4-hours MACD – The MACD for EOS/USD is currently moving in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well above the 60 level.
Major Support Levels – $2.600 and $2.500.
Major Resistance Levels – $2.700 and $3.000.