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EOS Price Analysis: Bulls Facing Uphill Task Near $5

Summary:
EOS price started a decent increase from the .65 zone against the US Dollar. The price is now trading above .20 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near .98 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue higher if it clears the .80 and .00 resistance levels. EOS price is showing positive signs above .20 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the .80 resistance. EOS Price Analysis This past week, EOS price started a steady increase above the .00 resistance zone against the US Dollar. The price formed a base above .80 and it was able to settle above the 55 simple moving average

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Aayush Jindal writes EOS Price Analysis: Key Hurdle Forms Near

  • EOS price started a decent increase from the $3.65 zone against the US Dollar.
  • The price is now trading above $4.20 and the 55 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $3.98 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue higher if it clears the $4.80 and $5.00 resistance levels.

EOS price is showing positive signs above $4.20 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the $4.80 resistance.

EOS Price Analysis

This past week, EOS price started a steady increase above the $4.00 resistance zone against the US Dollar. The price formed a base above $3.80 and it was able to settle above the 55 simple moving average (4-hours).

There was a break above a key bearish trend line with resistance near $3.98 on the 4-hours chart of the EOS/USD pair. The pair gained pace above the $4.20 resistance level. It surpassed the 50% Fib retracement level of the main decline from the $5.50 high to $3.64 low.

It is now trading above $4.20 and the 55 simple moving average (4-hours). An immediate resistance is near the $4.80 level. The stated resistance is close to the 61.8% Fib retracement level of the main decline from the $5.50 high to $3.64 low.

The first key resistance is near the $5.00 level. A close above the $5.00 level could open the doors for a steady increase. In the stated case, the price could rise towards the $5.50 level. The next key resistance is near the $6.00 level.

On the downside, the first major support is near the $4.50 level. The main support is now forming near the $4.20 zone and the 55 simple moving average (4-hours). If there is a downside break below the $4.20 support, there could be a move towards the $3.80 support.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading above $4.20 and the 55 simple moving average (4-hours). Overall, the price could continue higher if it clears the $4.80 and $5.00 resistance levels.

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 the 50 level.

Major Support Levels – $4.20 and $3.80.

Major Resistance Levels – $4.80 and $5.00.

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