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EOS Price Analysis: Bullish On Close Above $4

Summary:
EOS started a fresh increase above the .50 resistance against the US Dollar. The price is now trading above the .50 support and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near .75 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 .00 and .02 resistance levels in the near term. EOS price is showing positive signs above .50 against the US Dollar, similar to bitcoin. The price must clear .00 for more gains. EOS Price Analysis This week, EOS price saw a decent increase above the .50 resistance zone against the US Dollar. The price even broke the .80 resistance level and the 55 simple moving average (4-hours) to move into a

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  • EOS started a fresh increase above the $3.50 resistance against the US Dollar.
  • The price is now trading above the $3.50 support and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $3.75 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 $4.00 and $4.02 resistance levels in the near term.

EOS price is showing positive signs above $3.50 against the US Dollar, similar to bitcoin. The price must clear $4.00 for more gains.

EOS Price Analysis

This week, EOS price saw a decent increase above the $3.50 resistance zone against the US Dollar. The price even broke the $3.80 resistance level and the 55 simple moving average (4-hours) to move into a positive zone.

The price even spiked above the $4.00 level, but there was no upside continuation. A high is formed near $4.01 and the price is now consolidating gains. An initial support is near the $3.80 level. It is close to the 23.6% Fib retracement level of the upward move from the $3.15 swing low to $4.01 high.

There is also a major bullish trend line forming with support near $3.75 on the 4-hours chart of the EOS/USD pair. If there is a downside break below $3.80, the price could accelerate lower. The next major support is near the $3.60 level and the 55 simple moving average (4-hours).

The 50% Fib retracement level of the upward move from the $3.15 swing low to $4.01 high is also near the $3.58 level. Any more losses might lead the price towards the $3.50 level in the near term.

Conversely, the price might start a steady increase above the $4.00 resistance level. The next key resistance is near the $4.20 level, above which the price might rise towards the $4.50 level.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading above $3.80 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it breaks the $4.00 and $4.02 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 above to the 50 level.

Major Support Levels – $3.80 and $3.50.

Major Resistance Levels – $4.00 and $4.20.

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