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EOS Price Analysis: Rally Gathering Momentum Above $3

Summary:
EOS started a strong increase above the .700 resistance zone against the US Dollar.The price is currently trading above the .000 resistance level and the 55 simple moving average (4-hours).There was a break above a crucial bearish trend line with resistance near .850 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair could continue to move higher as long as it is above the .800 support zone.EOS price started a fresh increase above the .700 and .800 levels against the US Dollar, similar to bitcoin. The price could continue to grind higher towards the .300 and .500 levels.EOS Price AnalysisAfter forming a support base near the .650 zone, EOS price started a fresh increase against the US Dollar. Bitcoin price surged above the ,000 level, sparking

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  • EOS started a strong increase above the $2.700 resistance zone against the US Dollar.
  • The price is currently trading above the $3.000 resistance level and the 55 simple moving average (4-hours).
  • There was a break above a crucial bearish trend line with resistance near $2.850 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move higher as long as it is above the $2.800 support zone.

EOS price started a fresh increase above the $2.700 and $2.800 levels against the US Dollar, similar to bitcoin. The price could continue to grind higher towards the $3.300 and $3.500 levels.

EOS Price Analysis

After forming a support base near the $2.650 zone, EOS price started a fresh increase against the US Dollar. Bitcoin price surged above the $20,000 level, sparking a sharp increase in EOS above $2.700.

There was a clear break above the $2.800 resistance level and the 55 simple moving average (4-hours). Moreover, there was a break above a crucial bearish trend line with resistance near $2.850 on the 4-hours chart of the EOS/USD pair.

The pair even surged above the 50% Fib retracement level of the key decline from the $3.340 high to $2.646 low. It opened the doors for more gains above the $3.000 resistance level.

The next key resistance is near the $3.180 level. It is close to the 76.4% Fib retracement level of the key decline from the $3.340 high to $2.646 low. A clear break above the $3.180 and $3.200 resistance levels could open the doors for another increase.

In the stated case, EOS price might rise steadily towards the $3.300 level. The next major resistance is seen near the $3.500 level. Conversely, the price might correct lower from $3.180 or $3.200.

An initial support is near the $3.000 level. A clear break below the $3.000 support level might call for an extended downside correction towards the $2.800 support level.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading in a positive zone above the $3.000 level and the 55 simple moving average (4-hours). Overall, the price could continue to move higher as long as it is above the $2.800 support zone.

Technical indicators

4-hours MACD – The MACD for EOS/USD is now gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is currently well above the 50 level.

Major Support Levels – $3.000 and $2.800.

Major Resistance Levels – $3.180 and $3.200.

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