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EOS Price Analysis: Gaining Bullish Momentum Above $3.20

Summary:
EOS started a strong surge from well below the .800 zone against the US Dollar.The price is currently trading well above .200 and the 55 simple moving average (4-hours).There is a key bullish trend line forming with support at .950 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).The pair could correct a few points, but dips are likely to be limited below .200 and .000.EOS price started a fresh rally above .000 and .200 against the US Dollar, similar to bitcoin. The price could continue to rise towards .000 as long as it is above .000.EOS Price AnalysisAfter forming a support base above .500 and .600, EOS price started a fresh increase against the US Dollar. There was a sharp upward move above the .800 and .000 resistance levels.The price even

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  • EOS started a strong surge from well below the $2.800 zone against the US Dollar.
  • The price is currently trading well above $3.200 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support at $2.950 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could correct a few points, but dips are likely to be limited below $3.200 and $3.000.

EOS price started a fresh rally above $3.000 and $3.200 against the US Dollar, similar to bitcoin. The price could continue to rise towards $4.000 as long as it is above $3.000.

EOS Price Analysis

After forming a support base above $2.500 and $2.600, EOS price started a fresh increase against the US Dollar. There was a sharp upward move above the $2.800 and $3.000 resistance levels.

The price even cleared the $3.200 resistance and settled above the 55 simple moving average (4-hours). A high is formed near $3.472 and the price is currently consolidating gains. An initial support on the downside is near the $3.250 and $3.200 levels.

The 23.6% Fib retracement level of the recent increase from the $2.602 swing low to $3.472 high is also near the $3.250 level. Any more losses might call for an extended correction towards the $3.000 level.

There is also a key bullish trend line forming with support at $2.950 on the 4-hours chart of the EOS/USD pair. The trend line is close to the 50% Fib retracement level of the recent increase from the $2.602 swing low to $3.472 high.

Any more downsides could lead the price towards the $2.800 support zone. Conversely, the price could start another upward move. An initial resistance on the upside is near the $3.450 level.

The first key resistance could be $3.500 level, above which there are high chances of a steady rise towards the $4.000 level. An intermediate resistance could be near the $3.85 level.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading in a positive zone above the $3.000 level and the 55 simple moving average (4-hours). Overall, the price could correct a few points, but dips are likely to be limited below $3.200 and $3.000.

Technical indicators

4-hours MACD – The MACD for EOS/USD is slowly losing momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is currently correcting lower from the 70 level.

Major Support Levels – $3.200 and $3.000.

Major Resistance Levels – $3.500 and $3.850.

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