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EOS Price Analysis: Bears Take Step Back, Key Resistance Nearby

Summary:
EOS extended its decline and traded below the .50 support zone against the US Dollar. The price is now trading below the .75 support and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near .40 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to continue higher if it breaks the .55 and .75 resistance levels in the near term. EOS price is showing positive signs above .30 against the US Dollar, similar to bitcoin. The price must stay above .20 to avoid more losses. EOS Price Analysis This week, EOS price saw a downside extension below the .75 support zone against the US Dollar. The price broke the .50 and .30 support levels to move into a bearish zone. The

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  • EOS extended its decline and traded below the $3.50 support zone against the US Dollar.
  • The price is now trading below the $3.75 support and the 55 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $3.40 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to continue higher if it breaks the $3.55 and $3.75 resistance levels in the near term.

EOS price is showing positive signs above $3.30 against the US Dollar, similar to bitcoin. The price must stay above $3.20 to avoid more losses.

EOS Price Analysis

This week, EOS price saw a downside extension below the $3.75 support zone against the US Dollar. The price broke the $3.50 and $3.30 support levels to move into a bearish zone.

The price settled below the $3.75 level and the 55 simple moving average (4-hours). There was even a spike below the $3.20 level. A low is formed near the $3.14 level and the price is now correcting higher. There was a break above the $3.30 and $3.40 resistance levels.

There was also a break above the 23.6% Fib retracement level of the key decline from the $4.38 swing high to $3.14 low. Besides, there was a break above a key bearish trend line with resistance near $3.40 on the 4-hours chart of the EOS/USD pair.

However, the price is now facing resistance near $3.55. The next key resistance is near the $3.60 level and the 55 simple moving average (4-hours). The main resistance is near the $3.75 level, above which the price is likely to accelerate higher.

The next major resistance is near the $4.00 level. On the downside, an initial support is near the $3.40 level. The first key support is near the $3.20 level. If there is a downside break below $3.20, the price could accelerate lower. The next major support is near the $3.00 level.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below $3.75 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it breaks the $3.55 and $3.75 resistance levels in the near term.

Technical indicators

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

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

Major Support Levels – $3.40 and $3.20.

Major Resistance Levels – $3.55 and $3.75.

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