Wednesday , April 21 2021
Home / Altcoins / EOS Price Analysis: Bulls Eye Fresh Rally Above $4.50

EOS Price Analysis: Bulls Eye Fresh Rally Above $4.50

Summary:
EOS is gaining pace from the .680 support base against the US Dollar. The price is currently trading above the .000 support and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near .900 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to continue higher above the .250 and .500 resistance levels. EOS price is showing positive signs above .000 against the US Dollar, similar to bitcoin. The price is likely to surge significantly once there is a clear break above .500. EOS Price Analysis After a fresh decline, EOS price remained stable above .650 against the US Dollar. It formed a support base near .680 and recently started a decent upward move. There was a break above

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

This could be interesting, too:

Nick Marinoff writes Brian Armstrong: Crypto Regulation Is a Big Problem

Nick Marinoff writes Dogecoin Has Been Putting Rivals Like BTC to Shame

Nick Marinoff writes Jim Cramer Pays Off His House with Help from BTC

Aayush Jindal writes Cardano (ADA) Price Analysis: Risk of More Downsides Below .05

  • EOS is gaining pace from the $3.680 support base against the US Dollar.
  • The price is currently trading above the $4.000 support and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $3.900 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to continue higher above the $4.250 and $4.500 resistance levels.

EOS price is showing positive signs above $4.000 against the US Dollar, similar to bitcoin. The price is likely to surge significantly once there is a clear break above $4.500.

EOS Price Analysis

After a fresh decline, EOS price remained stable above $3.650 against the US Dollar. It formed a support base near $3.680 and recently started a decent upward move.

There was a break above the $3.950 and $4.000 resistance levels. The price is currently trading above the $4.000 support and the 55 simple moving average (4-hours). There was also a clear break above 50% Fib retracement level of the downward move from the $4.391 high to $3.677 low.

It is now trading near the $4.200 resistance. The 76.4% Fib retracement level of the downward move from the $4.391 high to $3.677 low is also near the $4.220 level.

A clear break above the $4.220 and $4.250 levels could open the doors for a strong increase. The next key resistance is near $4.400 and $4.500, above which the bulls are likely to aim $5.000 or even $5.500. On the downside, there is a key support forming near $3.900.

There is also a major bullish trend line forming with support near $3.900 on the 4-hours chart of the EOS/USD pair. The next major support is near $3.680, below which the price might dive towards the $3.380 level in the near term. Any more losses may possibly open the doors for a larger decline towards the $3.000 support.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading nicely above $4.000 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher above the $4.250 and $4.500 resistance levels in the near term.

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 – $3.900 and $3.680.

Major Resistance Levels – $4.400 and $4.500.

Tags:

Leave a Reply

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