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EOS Price Analysis: Bulls Face Resistance Near $3.8

Summary:
EOS price started a fresh decline from the .20 resistance against the US Dollar. The price is now trading below .80 and the 55 simple moving average (4-hours). There is a major contracting triangle forming with resistance near .75 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move down if it trades below the .30 support zone. EOS price is showing bearish signs below .00 against the US Dollar, similar to bitcoin. The price could decline further if there is a clear break below .30. EOS Price Analysis This past week, EOS price remained in a bearish zone below the .00 resistance zone against the US Dollar. The price traded below the .60 level and the 55 simple moving average (4-hours). The price even spiked

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  • EOS price started a fresh decline from the $4.20 resistance against the US Dollar.
  • The price is now trading below $3.80 and the 55 simple moving average (4-hours).
  • There is a major contracting triangle forming with resistance near $3.75 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move down if it trades below the $3.30 support zone.

EOS price is showing bearish signs below $4.00 against the US Dollar, similar to bitcoin. The price could decline further if there is a clear break below $3.30.

EOS Price Analysis

This past week, EOS price remained in a bearish zone below the $4.00 resistance zone against the US Dollar. The price traded below the $3.60 level and the 55 simple moving average (4-hours).

The price even spiked below $2.50 and traded as low as $2.436. Recently, there was an upside correction above the $2.80 and $3.00 levels. The price climbed above the 50% Fib retracement level of the downward move from the $4.17 swing high to $2.436 low.

The price is now trading below $3.80 and the 55 simple moving average (4-hours). There is also a major contracting triangle forming with resistance near $3.75 on the 4-hours chart of the EOS/USD pair.

The 76.4% Fib retracement level of the downward move from the $4.17 swing high to $2.436 low also acted as a resistance. On the downside, the first major support is near the $3.45 level.

The main support is now forming near the $3.30 zone. If there is a downside break below the $3.30 support, there could be a move towards the $3.00 support.

On the upside, the first key resistance is near the $3.60 level and the 55 simple moving average (4-hours). A close above the $3.60 level could open the doors for a steady increase. In the stated case, the price could rise towards the $4.00 level. The next key resistance is near the $4.20 level.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below $4.00 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it trades below the $3.30 support zone.

Technical indicators

4-hours MACD – The MACD for EOS/USD is slowly gaining pace in the bearish zone.

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

Major Support Levels – $3.40 and $3.30.

Major Resistance Levels – $3.80 and $4.00.

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