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EOS Price Analysis: Signs of Upside Continuation To $6

Summary:
EOS price started a fresh increase above the .00 resistance zone against the US Dollar. The price is now trading above .00 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near .00 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to continue higher if it settles above the .40 pivot level. EOS price is gaining pace above .00 against the US Dollar, similar to bitcoin. The price could continue to move up if it clears the .40 and .50 resistance levels. EOS Price Analysis This past week, EOS price formed a base above the .80 support zone against the US Dollar. The price started a decent increase above the .00 resistance zone. There was a break above a major

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Aayush Jindal writes EOS Price Analysis: Key Hurdle Forms Near

  • EOS price started a fresh increase above the $5.00 resistance zone against the US Dollar.
  • The price is now trading above $5.00 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $5.00 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to continue higher if it settles above the $5.40 pivot level.

EOS price is gaining pace above $5.00 against the US Dollar, similar to bitcoin. The price could continue to move up if it clears the $5.40 and $5.50 resistance levels.

EOS Price Analysis

This past week, EOS price formed a base above the $4.80 support zone against the US Dollar. The price started a decent increase above the $5.00 resistance zone.

There was a break above a major bearish trend line with resistance near $5.00 on the 4-hours chart of the EOS/USD pair. The pair settled nicely above the $5.00 zone and the 55 simple moving average (4-hours). There was also a break above the 50% Fib retracement level of the main decline from the $5.71 high to $4.63 low.

It is now consolidating near the $5.30 resistance. It seems like the price is facing hurdles near the 61.8% Fib retracement level of the main decline from the $5.71 high to $4.63 low.

The first key resistance is near the $5.40. To start a fresh increase, the price must settle above the $5.40 level. The next key resistance is near the $5.50 level, above which the price could accelerate higher towards the $6.00 barrier in the near term.

On the downside, the first major support is near the $5.15 levels. The main support is now forming near the $5.00 zone. If there is a downside break below the $5.00 support, there could be a move towards the $4.80 support. The next major support sits near the $4.62 level.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading well above $5.30 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it settles above the $5.40 pivot level.

Technical indicators

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

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

Major Support Levels – $5.15 and $5.00.

Major Resistance Levels – $5.40 and $5.50.

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