EOS price started a downside correction from the .40 resistance against the US Dollar. The price is now trading above .50 and the 55 simple moving average (4-hours). There is a crucial expanding triangle forming with support near .70 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could accelerate higher if it clears the .10 and .20 resistance levels. EOS price is showing positive signs above .60 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the . 10 resistance. EOS Price Analysis This week, EOS price started a steady increase above the .50 resistance zone against the US Dollar. The price formed a base above .00 and it was able to settle above the 55 simple moving average
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- EOS price started a downside correction from the $5.40 resistance against the US Dollar.
- The price is now trading above $4.50 and the 55 simple moving average (4-hours).
- There is a crucial expanding triangle forming with support near $4.70 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could accelerate higher if it clears the $5.10 and $5.20 resistance levels.
EOS price is showing positive signs above $4.60 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the $5. 10 resistance.
EOS Price Analysis
This week, EOS price started a steady increase above the $4.50 resistance zone against the US Dollar. The price formed a base above $5.00 and it was able to settle above the 55 simple moving average (4-hours).
The price traded as high as $5.39 before starting a downside correction. There was a sharp decline below the $5.10 and $5.00 support levels. However, the bulls were active near the $4.50 level above the 55 simple moving average (4-hours).
It is now rising and trading above $4.80. There was a break above the $4.65 and $4.50 resistance levels. Besides, there is a crucial expanding triangle forming with support near $4.70 on the 4-hours chart of the EOS/USD pair. The pair is testing the 50% Fib retracement level of the downward move from the $5.396 swing high to $4.540 low.
An immediate resistance is near the $5.05 level. The first key resistance is near the $5.10 level. It is near the 61.8% Fib retracement level of the downward move from the $5.396 swing high to $4.540 low.
A close above the $5.10 level could open the doors for a steady increase. In the stated case, the price could rise towards the $5.40 level. The next key resistance is near the $5.50 level.
On the downside, the first major support is near the $4.80 level. The main support is now forming near the $4.60 zone and the 55 SMA. If there is a downside break below the $4.60 support, there could be a move towards the $4.20 support.
EOS Price
Looking at the chart, EOS price is now trading above $4.65 and the 55 simple moving average (4-hours). Overall, the price could accelerate higher if it clears the $5.10 and $5.20 resistance levels.
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 above the 50 level.
Major Support Levels – $4.75 and $4.50.
Major Resistance Levels – $5.10 and $5.40.