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EOS Price Analysis: Upside Break above $10 Seems Likely

Summary:
EOS started a strong increase above the .90 and .05 resistance levels against the US Dollar. The price is currently trading well above the .00 zone and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near .95 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is accelerating higher, and it could soon clear the .50 and resistance levels. EOS price is gaining pace above .50 zone against the US Dollar, similar to bitcoin. The price is likely to rally further it clears the barrier in the near term. EOS Price Analysis After forming a base near .60, EOS price started a strong increase against the US Dollar. The bulls took control and pushed the price above the .50 and .00

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  • EOS started a strong increase above the $6.90 and $8.05 resistance levels against the US Dollar.
  • The price is currently trading well above the $8.00 zone and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $6.95 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is accelerating higher, and it could soon clear the $9.50 and $10 resistance levels.

EOS price is gaining pace above $7.50 zone against the US Dollar, similar to bitcoin. The price is likely to rally further it clears the $10 barrier in the near term.

EOS Price Analysis

After forming a base near $4.60, EOS price started a strong increase against the US Dollar. The bulls took control and pushed the price above the $5.50 and $6.00 resistance levels.

It opened the doors for a steady increase above the $7.00 barrier. The price even surged above the $8.50 resistance zone and extended its rally. A high is formed near $9.32 and the price is currently showing a lot of positive zone.

It is currently trading well above the $8.00 zone and the 55 simple moving average (4-hours). An initial support on the downside is near the $8.50 level. It is close to the 23.6% Fib retracement level of the recent rally from the $6.21 swing low to $9.32 high.

The next major support is near the $8.0 level. The 50% Fib retracement level of the recent rally from the $6.21 swing low to $9.32 high is also near the $7.67 level. Any more losses might call for a test of the $7.00 support zone.

Moreover, there is a major bullish trend line forming with support near $6.95 on the 4-hours chart of the EOS/USD pair. On the upside, an immediate resistance is near the $9.45 and $9.50 levels. The next major resistance is near the $10.00 level. A successful close above the $10.00 level could lead the price towards the $12.00 and $12.50 levels.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading nicely above $7.50 and the 55 simple moving average (4-hours). Overall, the price is accelerating higher, and it could soon clear the $9.50 and $10 resistance levels.

Technical indicators

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

4-hours RSI (Relative Strength Index) – The RSI is now well above the 65 level.

Major Support Levels – $8.50 and $8.00.

Major Resistance Levels – $9.50 and $10.00.

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