EOS seems to be forming a decent support base above the .80 level against the US Dollar. The price is now trading well above .50 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near .60 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to start a strong increase if there is a clear break above the .40 and .50 levels. EOS price is showing positive signs above .50 against the US Dollar, similar to bitcoin. The price must clear .50 to move into a positive zone. EOS Price Analysis In the past few days, EOS price saw a decent recovery wave above the .00 level against the US Dollar. The price traded above the .20 and .50 resistance levels to move into a
Topics:
Aayush Jindal considers the following as important: Altcoin News, EOS, News, Trading
This could be interesting, too:
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
Bhushan Akolkar writes Cardano Investors Continue to Be Hopeful despite 11% ADA Price Drop
Bena Ilyas writes Stablecoin Transactions Constitute 43% of Sub-Saharan Africa’s Volume
Chimamanda U. Martha writes Crypto Exchange ADEX Teams Up with Unizen to Enhance Trading Experience for Users
- EOS seems to be forming a decent support base above the $3.80 level against the US Dollar.
- The price is now trading well above $3.50 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $3.60 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair is likely to start a strong increase if there is a clear break above the $4.40 and $4.50 levels.
EOS price is showing positive signs above $3.50 against the US Dollar, similar to bitcoin. The price must clear $4.50 to move into a positive zone.
EOS Price Analysis
In the past few days, EOS price saw a decent recovery wave above the $3.00 level against the US Dollar. The price traded above the $3.20 and $3.50 resistance levels to move into a positive zone.
There was a break above the 23.6% Fib retracement level of the main decline from the $5.45 swing high to $3.05 low. There was also a break above a major bearish trend line with resistance near $3.60 on the 4-hours chart of the EOS/USD pair.
The pair is now trading well above $3.50 and the 55 simple moving average (4-hours). It tested the key $4.25 resistance zone, where the bears appeared.
It is now consolidating near the $4.00 level. The 50% Fib retracement level of the main decline from the $5.45 swing high to $3.05 low is also near the $4.25 level. The next key resistance is near the $4.40 and $4.50 levels. A close above the $4.50 level could spark a strong increase in the coming sessions.
The next stop for the bulls might be $5.00. On the downside, an initial support is near the $3.85 level. The next major support is near the $3.75 level and the 55 SMA. Any more losses might call for a move towards the $3.50 level.
EOS Price
Looking at the chart, EOS price is now trading well above $3.50 and the 55 simple moving average (4-hours). Overall, the price is likely to start a strong increase if there is a clear break above the $4.40 and $4.50 levels.
Technical indicators
4-hours MACD – The MACD for EOS/USD is now moving in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well above the 50 level.
Major Support Levels – $3.85 and $3.75.
Major Resistance Levels – $4.25 and $4.50.