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EOS Price Analysis: Breakout Above $4.40 Seems Likely

Summary:
EOS is slowly rising from the .500 support base against the US Dollar. The price is currently trading above the .800 support and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near .850 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to start a strong increase above the .400 and .500 resistance levels. EOS price is consolidating above .800 against the US Dollar, while bitcoin is rising. The price could rally sharply if there is a clear break above the .400 resistance zone. EOS Price Analysis After forming a support base above .400, EOS price started a steady recovery wave against the US Dollar. The price broke the .500 and .600 resistance levels to move into a

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  • EOS is slowly rising from the $3.500 support base against the US Dollar.
  • The price is currently trading above the $3.800 support and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $3.850 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to start a strong increase above the $4.400 and $4.500 resistance levels.

EOS price is consolidating above $3.800 against the US Dollar, while bitcoin is rising. The price could rally sharply if there is a clear break above the $4.400 resistance zone.

EOS Price Analysis

After forming a support base above $3.400, EOS price started a steady recovery wave against the US Dollar. The price broke the $3.500 and $3.600 resistance levels to move into a positive zone.

There was also a break above the $3.800 resistance zone. EOS spiked above the $4.000 barrier, but it struggled near $4.200. A high is formed near $4.199 and the price is currently correcting gains. It traded below the 23.6% Fib retracement level of the recent increase from the $3.555 swing low to $4.199 high.

It is now trading above the $3.800 support and the 55 simple moving average (4-hours). The first key support is near the $3.850 level. There is also a key bullish trend line forming with support near $3.850 on the 4-hours chart of the EOS/USD pair.

The trend line is close to the 50% Fib retracement level of the recent increase from the $3.555 swing low to $4.199 high. If there is a downside break below the trend line support, there are chances of a drop towards the $3.500 support zone.

Conversely, the price could rise steadily above the $4.200 resistance. An initial resistance on the upside is near the $4.400 level. If there is an upside break above $4.400, the price could rise towards the $4.800 resistance. Any more gains could lead the price towards the $5.000 level in the near term.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading nicely above $3.800 and the 55 simple moving average (4-hours). Overall, the price is likely to start a strong increase above the $4.400 and $4.500 resistance levels.

Technical indicators

4-hours MACD – The MACD for EOS/USD is showing positive signs in the bullish zone.

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

Major Support Levels – $3.850 and $3.800.

Major Resistance Levels – $4.200 and $4.400.

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