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EOS Price Analysis: Signs of a Key Breakdown Below $5.30

Summary:
EOS price started a downside correction from the .95 resistance zone against the US Dollar. The price is now trading just below the .30 support and the 55 simple moving average (4-hours). There was a break below a crucial bullish trend line with support near .20 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to continue lower unless it recovers above the .30 resistance zone. EOS price is gaining pace below .30 against the US Dollar, similar to bitcoin. The price could continue to move down if it breaks the .80 support zone. EOS Price Analysis This past week, EOS price saw a decent increase above the .00 resistance zone against the US Dollar. The price broke the .60 resistance level and the 55 simple moving

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Aayush Jindal writes EOS Price Analysis: Key Hurdle Forms Near

  • EOS price started a downside correction from the $5.95 resistance zone against the US Dollar.
  • The price is now trading just below the $5.30 support and the 55 simple moving average (4-hours).
  • There was a break below a crucial bullish trend line with support near $5.20 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to continue lower unless it recovers above the $5.30 resistance zone.

EOS price is gaining pace below $5.30 against the US Dollar, similar to bitcoin. The price could continue to move down if it breaks the $4.80 support zone.

EOS Price Analysis

This past week, EOS price saw a decent increase above the $5.00 resistance zone against the US Dollar. The price broke the $5.60 resistance level and the 55 simple moving average (4-hours).

The price even spiked above the $5.80 level, but it faced a major resistance near the $5.90 zone. A high was formed near $5.92 and the price recently corrected lower. There was a break below the $5.30 and $5.20 support levels.

There was also a break below a crucial bullish trend line with support near $5.20 on the 4-hours chart of the EOS/USD pair. The price even spiked below the $5.00 level and traded as low as $4.87.

It is now correcting losses and trading above the $5.00 level. There was a break above the 23.6% Fib retracement level of the key drop from the $5.92 high to $4.87 low. It is now trading just below the $5.30 support and the 55 simple moving average (4-hours).

The first key resistance is near the $5.30 and the 55 simple moving average (4-hours). It is near the 50% Fib retracement level of the key drop from the $5.92 high to $4.87 low.

To start a fresh increase, the price must settle above the $5.30 level. On the downside, the first major support is near the $4.90 and $4.80 levels. If there is a downside break below the $4.80 support, there could be a move towards the $4.20 support.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading just below $5.30 and the 55 simple moving average (4-hours). Overall, the price is likely to continue lower unless it recovers above the $5.30 resistance 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 below the 50 level.

Major Support Levels – $4.90 and $4.80.

Major Resistance Levels – $5.30 and $5.50.

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