EOS started a fresh decline after it failed to surpass .40 against the US Dollar. The price is now trading below the .00 support and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near .65 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to continue lower if it breaks the .50 support zone in the near term. EOS price is showing bearish signs below .00 against the US Dollar, similar to bitcoin. The price must stay above .50 to avoid more losses. EOS Price Analysis In the past few sessions, EOS price saw a fresh decline from the .40 zone against the US Dollar. The price broke the .20 and .00 support levels to move into a bearish zone. The price settled below the .00
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- EOS started a fresh decline after it failed to surpass $4.40 against the US Dollar.
- The price is now trading below the $4.00 support and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $3.65 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair is likely to continue lower if it breaks the $3.50 support zone in the near term.
EOS price is showing bearish signs below $4.00 against the US Dollar, similar to bitcoin. The price must stay above $3.50 to avoid more losses.
EOS Price Analysis
In the past few sessions, EOS price saw a fresh decline from the $4.40 zone against the US Dollar. The price broke the $4.20 and $4.00 support levels to move into a bearish zone.
The price settled below the $4.00 level and the 55 simple moving average (4-hours). There was even a spike below the $3.65 level. A low is formed near the $3.59 level and the price is now correcting higher. There was a break above the $3.65 and $3.70 resistance levels.
There was also a break above the 23.6% Fib retracement level of the recent decline from the $4.38 swing high to $3.59 low. However, the price is now facing resistance near $3.90 and the 55 simple moving average (4-hours).
The first major resistance is near the $4.00 level. It is near the 50% Fib retracement level of the recent decline from the $4.38 swing high to $3.59 low. A clear break above the $3.90 and $4.00 levels could set the pace for a larger increase.
The next major resistance is near the $4.40 level. On the downside, an initial support is near the $3.65 level. There is also a key bullish trend line forming with support near $3.65 on the 4-hours chart of the EOS/USD pair.
If there is a downside break below $3.65, the price could accelerate lower. The next major support is near the $3.50 level, below which the price could test $3.20.
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 is likely to continue lower if it breaks the $3.50 support zone in the near term.
Technical indicators
4-hours MACD – The MACD for EOS/USD is slowly moving in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now below the 50 level.
Major Support Levels – $3.65 and $3.50.
Major Resistance Levels – $4.00 and $4.40.