EOS price is trading in a positive zone above the .200 resistance against the US Dollar.The price is likely to continue higher if it clears the .300 resistance area.There was a break above major bearish trend line with resistance near .230 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).There are a few key hurdles on the upside, starting with .300 and up to .520.EOS price is currently gaining bullish momentum towards .500 against the US Dollar, similar to bitcoin. If the bulls remain in action, the price could test the .800 area.EOS Price AnalysisAfter a couple of failed attempts near the .400 resistance, EOS price corrected lower against the US Dollar. The price traded below the .300 level and the 55 simple moving average (4-hours).However, the .080
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- EOS price is trading in a positive zone above the $2.200 resistance against the US Dollar.
- The price is likely to continue higher if it clears the $2.300 resistance area.
- There was a break above major bearish trend line with resistance near $2.230 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- There are a few key hurdles on the upside, starting with $2.300 and up to $2.520.
EOS price is currently gaining bullish momentum towards $2.500 against the US Dollar, similar to bitcoin. If the bulls remain in action, the price could test the $2.800 area.
EOS Price Analysis
After a couple of failed attempts near the $3.400 resistance, EOS price corrected lower against the US Dollar. The price traded below the $2.300 level and the 55 simple moving average (4-hours).
However, the $2.080 area remained strong and protected more downsides. As a result, the price started a fresh increase above the $2.100 and $2.200 levels. It also climbed back above $2.225 and the 55 simple moving average (4-hours).
Moreover, there was a break above major bearish trend line with resistance near $2.230 on the 4-hours chart of the EOS/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $2.373 high to $2.091 low.
It is now facing hurdles near the $2.300 level. The 76.4% Fib retracement level of the downward move from the $2.373 high to $2.091 low is also acting as a resistance.
Therefore, a clear break above the $2.300 level might lead the price towards the key $2.400 resistance area. If the bulls succeed in clearing the $2.400 resistance, EOS could rise steadily towards the $2.500 and $2.600 levels. Any further gains may perhaps lead it towards the $2.800 level.
Conversely, the price might struggle to continue above the $2.400 resistance area. In the mentioned case, an initial support is near the $2.225 level. The first key support is near the $2.200 level, below which there is a risk of an extended decline towards the $2.080 support zone.
EOS Price
Looking at the chart, EOS price is currently gaining traction above $2.225 and it is likely to surpass the $2.300 and $2.400 resistance levels. If it fails, the bears are likely to aim a retest of $2.080.
Technical indicators
4-hours MACD – The MACD for EOS/USD is slowly gaining pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well above the 50 level.
Major Support Levels – $2.220 and $2.080.
Major Resistance Levels – $2.400 and $2.500.