Friday , October 15 2021
Home / Altcoins / EOS Price Analysis: Major Support Nearby At $4.8

EOS Price Analysis: Major Support Nearby At $4.8

Summary:
EOS price rallied above .00 before it faced resistance near .95 against the US Dollar. The price is now trading just below the .00 support and the 55 simple moving average (4-hours). There is a crucial bullish trend line forming with support near .80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to resume higher unless there is a clear break below .80 and .65. EOS price is holding gains above .80 against the US Dollar, similar to bitcoin. The price must clear .10 and .35 to start a fresh increase. EOS Price Analysis EOS price saw a decent increase above the .00 resistance zone against the US Dollar. The price broke the .50 resistance level and the 55 simple moving average (4-hours) to move into a positive

Topics:
Aayush Jindal considers the following as important: , , ,

This could be interesting, too:

Nick Marinoff writes Compassion International Says “Yes” to Crypto Payments

Nick Marinoff writes Navy Engineer Jonathan Toebbe Arrested for Exchanging Restricted Data for Crypto

Nick Marinoff writes New York and Texas Are Competing for New Crypto Miners

Aayush Jindal writes EOS Price Analysis: Key Hurdle Forms Near

  • EOS price rallied above $5.00 before it faced resistance near $5.95 against the US Dollar.
  • The price is now trading just below the $5.00 support and the 55 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $4.80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to resume higher unless there is a clear break below $4.80 and $4.65.

EOS price is holding gains above $4.80 against the US Dollar, similar to bitcoin. The price must clear $5.10 and $5.35 to start a fresh increase.

EOS Price Analysis

EOS price saw a decent increase above the $5.00 resistance zone against the US Dollar. The price broke the $5.50 resistance level and the 55 simple moving average (4-hours) to move into a positive zone.

The price even spiked above the $5.80 level, but there was no upside continuation. A high is formed near $5.94 and the price recently corrected lower. There was a break below the $5.50 support level. The price even spiked below the $5.00 level.

It is now trading just below the $5.00 support and the 55 simple moving average (4-hours). It is testing the 23.6% Fib retracement level of the recent decline from the $5.94 high to $4.72 low. There is also a crucial bullish trend line forming with support near $4.80 on the 4-hours chart of the EOS/USD pair.

The first key resistance is near the $5.10 and the 55 simple moving average (4-hours). The next major resistance could be $5.35. It is near the 50% Fib retracement level of the recent decline from the $5.94 high to $4.72 low.

To start a fresh increase, the price must settle above the $5.35 level. On the downside, the first major support is near the $4.80 zone. If there is a downside break below the trend line support, there could be a move towards the $4.60 support. Any more losses might lead the price towards $4.00.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading just below $5.00 and the 55 simple moving average (4-hours). Overall, the price is likely to resume higher unless there is a clear break below $4.80 and $4.65.

Technical indicators

4-hours MACD – The MACD for EOS/USD is slowly gaining pace in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is now below the 50 level.

Major Support Levels – $4.80 and $4.60.

Major Resistance Levels – $5.10 and $5.35.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *