Wednesday , April 21 2021
Home / Altcoins / EOS Price Analysis: Recovery Could Face Hurdles Near $3.8

EOS Price Analysis: Recovery Could Face Hurdles Near $3.8

Summary:
EOS started a fresh decline after it failed to clear the .300 resistance against the US Dollar. The price is currently trading well below the .000 support and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near .050 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could correct higher, but it is likely to face sellers near .750 and .800. EOS price is showing bearish signs below .000 against the US Dollar, similar to bitcoin. The price is likely to continue lower as long as it is below the .800 level. EOS Price Analysis This week, EOS price made two attempts to gain strength above .300 against the US Dollar. However, the bulls failed to gain pace above the .300 level,

Topics:
Aayush Jindal considers the following as important: , , ,

This could be interesting, too:

Nick Marinoff writes Brian Armstrong: Crypto Regulation Is a Big Problem

Nick Marinoff writes Dogecoin Has Been Putting Rivals Like BTC to Shame

Nick Marinoff writes Jim Cramer Pays Off His House with Help from BTC

Aayush Jindal writes Cardano (ADA) Price Analysis: Risk of More Downsides Below .05

  • EOS started a fresh decline after it failed to clear the $4.300 resistance against the US Dollar.
  • The price is currently trading well below the $4.000 support and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $4.050 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could correct higher, but it is likely to face sellers near $3.750 and $3.800.

EOS price is showing bearish signs below $4.000 against the US Dollar, similar to bitcoin. The price is likely to continue lower as long as it is below the $3.800 level.

EOS Price Analysis

This week, EOS price made two attempts to gain strength above $4.300 against the US Dollar. However, the bulls failed to gain pace above the $4.300 level, resulting in a fresh bearish reaction.

There was a break below the $4.100 and $4.000 support levels. There was also a break below a major bullish trend line with support near $4.050 on the 4-hours chart of the EOS/USD pair. The pair gained pace below the $3.800 support level.

A low is formed near $3.449, and the price is now trading well below the $4.000 support and the 55 simple moving average (4-hours). An immediate resistance is near the $3.750 and $3.800 levels.

The 50% Fib retracement level of the downward move from the $4.302 high to $3.449 low is the next resistance at $3.875. The next major resistance for the bulls on the upside is near the $3.950 and $4.000 levels.

The 61.8% Fib retracement level of the downward move from the $4.302 high to $3.449 low could also prevent upsides near the $4.000 zone. A clear break above the $3.850 and $4.000 levels could open the doors for a strong increase. The next key resistance is near $4.300, above which the bulls are likely to aim $4.500 or even $5.000.

On the downside, there is a key support forming near $3.450. The next major support is near $3.400, below which the price might dive towards the $3.150 level in the near term.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading well below $4.000 and the 55 simple moving average (4-hours). Overall, the price could correct higher, but it is likely to face sellers near $3.750 and $3.800.

Technical indicators

4-hours MACD – The MACD for EOS/USD is showing negative signs in the bearish zone.

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

Major Support Levels – $3.450 and $3.150.

Major Resistance Levels – $3.850 and $4.000.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *