EOS price is trading in a positive zone above the .150 support against the US Dollar.The price is likely to start a strong increase if it breaks .400 and .500.There is a key contracting triangle forming with resistance near .400 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The current price action is positive and suggesting more gains above .400 and .500.EOS price is slowly gaining bullish momentum above .200 against the US Dollar, similar to bitcoin. A previous bullish pattern replica suggests more gains in the near term.EOS Price AnalysisIn the past few days, there was a steady increase in EOS above the .000 resistance against the US Dollar. The price remained well bid and it climbed above the .150 resistance and the 55 simple moving average
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- EOS price is trading in a positive zone above the $2.150 support against the US Dollar.
- The price is likely to start a strong increase if it breaks $2.400 and $2.500.
- There is a key contracting triangle forming with resistance near $2.400 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The current price action is positive and suggesting more gains above $2.400 and $2.500.
EOS price is slowly gaining bullish momentum above $2.200 against the US Dollar, similar to bitcoin. A previous bullish pattern replica suggests more gains in the near term.
EOS Price Analysis
In the past few days, there was a steady increase in EOS above the $2.000 resistance against the US Dollar. The price remained well bid and it climbed above the $2.150 resistance and the 55 simple moving average (4-hours).
The bulls gained pace and the price surged above $2.250. It broke the $2.400 resistance area and traded as high as $2.529. Moreover, there was a break above a major contracting triangle with resistance near $2.035 on the 4-hours chart of the EOS/USD pair.
Recently, there was a downside correction below the $2.300 and $2.250 levels. It broke the 23.6% Fib retracement level of the upward move from the $1.437 low to $2.529 high.
However, the $2.000 area is acting as a strong support. The 50% Fib retracement level of the upward move from the $1.437 low to $2.529 high is also providing support.
It seems like there is another key contracting triangle forming with resistance near $2.400 on the same chart. If there is an upside break above the triangle resistance, the price could start a strong increase above $2.500.
The next key resistance is near $2.650, above which the price may perhaps rise towards $2.800. Conversely, there could be a downside break below the $2.150 and $2.050 levels.
The main support is near the $2.000 level, below which there is a risk of an extended decline towards the $1.800 support area in the coming sessions.
EOS Price
Looking at the chart, EOS price is currently trading in a major breakout range below the $2.400 resistance. A clear break above the $2.400 and $2.500 levels may perhaps start a solid bullish move in the near term.
Technical indicators
4-hours MACD – The MACD for EOS/USD is slowly gaining in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently declining towards the 50 level.
Major Support Levels – $2.150 and $2.000.
Major Resistance Levels – $2.400 and $2.500.