EOS price started a downside correction after trading to a new yearly high at .073 against the US Dollar.The price is declining and it recently broke the .800 support area.There was a break below a key bullish trend line with support near .600 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair remains at a risk of additional losses below .550 and .500 in the near term.EOS price is correcting lower from the recent high against the US Dollar, just like bitcoin. It could continue to slide towards .225 unless the bulls protect the .500 support.EOS Price AnalysisThis week, there was a downside correction in bitcoin, Ethereum, ripple, litecoin and EOS against the US Dollar. Earlier, EOS price climbed above the .500 and .800 resistance levels.It even
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- EOS price started a downside correction after trading to a new yearly high at $4.073 against the US Dollar.
- The price is declining and it recently broke the $3.800 support area.
- There was a break below a key bullish trend line with support near $3.600 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair remains at a risk of additional losses below $3.550 and $3.500 in the near term.
EOS price is correcting lower from the recent high against the US Dollar, just like bitcoin. It could continue to slide towards $3.225 unless the bulls protect the $3.500 support.
EOS Price Analysis
This week, there was a downside correction in bitcoin, Ethereum, ripple, litecoin and EOS against the US Dollar. Earlier, EOS price climbed above the $3.500 and $3.800 resistance levels.
It even broke the $4.000 resistance area and settled above the 55 simple moving average (4-hours). Finally, the price traded as high as $4.073 and recently started a downside correction.
It broke the $4.000 and $3.800 support levels. Moreover, there was a break below the 23.6% Fib retracement level of the upward move from the $2.647 low to $4.073 high. The decline was such that the price even broke the $3.600 support level.
Besides, there was a break below a key bullish trend line with support near $3.600 on the 4-hours chart of the EOS/USD pair. It is now trading near the $3.500 support level and below the 55 simple moving average (4-hours).
If there is a break below the $3.500 support, the price could slide towards the $3.350 support area. It represents the 50% Fib retracement level of the upward move from the $2.647 low to $4.073 high.
Any further losses may perhaps lead the price towards the $3.225 support area. If the bears push the price below the $3.225 support, there is a risk of a collapse towards the 76.4% Fib retracement level of the upward move from the $2.647 low to $4.073 high.
On the upside, an initial resistance is near the $3.700 area and the 55 SMA. If the bulls push the price above the $3.700 area, the price could start a strong rise towards the $4.000 area.
EOS Price
Looking at the chart, EOS price is currently declining and it may soon break the $3.500 support. However, the bulls are likely to emerge near the $3.225 support area.
Technical indicators
4-hours MACD – The MACD for EOS/USD is slowly gaining momentum in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well below the 50 level.
Major Support Levels – $3.500 and $3.225.
Major Resistance Levels – $3.700 and $4.000.