Saturday , July 31 2021
Home / Altcoins / EOS Price Analysis: Signs of Fresh Decrease Below $3.6

EOS Price Analysis: Signs of Fresh Decrease Below $3.6

Summary:
EOS failed to surpass a key resistance zone near .20 against the US Dollar. The price is now trading below the .00 support and the 55 simple moving average (4-hours). There was a break below a key contracting triangle with support near .00 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 .60 support zone in the near term. EOS price is showing bearish signs below .85 against the US Dollar, similar to bitcoin. The price must stay above .60 to avoid more losses. EOS Price Analysis In the past few sessions, EOS price saw a decent recovery wave above the .60 level against the US Dollar. The price even traded above the .00 resistance zone. There was a break above the 23.6% Fib

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

This could be interesting, too:

Nick Marinoff writes Crypto Firm Fire Blocks Garners More than 0 Million in New Funds

Nick Marinoff writes Botswana Is Becoming a Major Bitcoin Haven

Nick Marinoff writes Musk Has Lost a Lot of BTC, but He Probably Only Has Himself to Blame

Aayush Jindal writes Bitcoin Cash Analysis: Eyes Upside Break above 0

  • EOS failed to surpass a key resistance zone near $4.20 against the US Dollar.
  • The price is now trading below the $4.00 support and the 55 simple moving average (4-hours).
  • There was a break below a key contracting triangle with support near $4.00 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 $3.60 support zone in the near term.

EOS price is showing bearish signs below $3.85 against the US Dollar, similar to bitcoin. The price must stay above $3.60 to avoid more losses.

EOS Price Analysis

In the past few sessions, EOS price saw a decent recovery wave above the $3.60 level against the US Dollar. The price even traded above the $4.00 resistance zone.

There was a break above the 23.6% Fib retracement level of the key drop from the $5.44 swing high to $3.05 low. However, the price faced a strong resistance near the $4.20 level. There was a couple of spikes above $4.20, but there was no upside continuation.

It seems like the price failed to clear the 50% Fib retracement level of the key drop from the $5.44 swing high to $3.05 low. The pair is now trading lower and it broke the $4.00 support level.

There was also a break below a key contracting triangle with support near $4.00 on the 4-hours chart of the EOS/USD pair. It is now trading below $3.80 and the 55 simple moving average (4-hours). An initial support on the downside is near the $3.60 level.

If there is a downside break below $3.60, the price could accelerate lower. The next major support is near the $3.20 level. On the upside, the price might face hurdles near $4.00 and the 55 SMA.

The next key resistance is near the $4.20 and $4.25 levels. A close above the $4.20 level could spark a strong increase in the coming sessions. The next stop for the bulls might be $5.00.

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 is likely to continue lower if it breaks the $3.60 support zone in the near term.

Technical indicators

4-hours MACD – The MACD for EOS/USD is now moving in the bearish zone.

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

Major Support Levels – $3.60 and $3.20.

Major Resistance Levels – $4.20 and $4.50.

Tags:

Leave a Reply

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