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EOS Price Analysis: Rally Could Extend Above $3.20

Summary:
EOS price started a fresh increase from the .20 zone against the US Dollar. The price is now trading above .80 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near .80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could resume increase if it clears the .02 resistance zone. EOS price is showing positive signs above .80 against the US Dollar, similar to bitcoin. The price could continue to rise if it manages to surpass .02. EOS Price Analysis This week, EOS price started a decent upward move wave from the .20 support zone against the US Dollar. The price was able to clear the .50 and .80 resistance levels. The price even gained pace above the .00 level and the 55 simple

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  • EOS price started a fresh increase from the $2.20 zone against the US Dollar.
  • The price is now trading above $2.80 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $2.80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could resume increase if it clears the $3.02 resistance zone.

EOS price is showing positive signs above $2.80 against the US Dollar, similar to bitcoin. The price could continue to rise if it manages to surpass $3.02.

EOS Price Analysis

This week, EOS price started a decent upward move wave from the $2.20 support zone against the US Dollar. The price was able to clear the $2.50 and $2.80 resistance levels.

The price even gained pace above the $3.00 level and the 55 simple moving average (4-hours). A high was formed near $3.18 and the price corrected lower. There was a move below the $3.00 support zone. The price declined below the 23.6% Fib retracement level of the key increase from the $2.430 swing low to $3.18 high.

However, the bulls are protecting the $2.80 support zone. It is near the 50% Fib retracement level of the key increase from the $2.430 swing low to $3.18 high.

There is also a key bullish trend line forming with support near $2.80 on the 4-hours chart of the EOS/USD pair. On the upside, the price is facing resistance near the $3.02 level. A clear upside break above the $3.02 resistance could start a steady increase.

The next major resistance is near the $3.15 level. If there are additional gains above $3.15, the price could rise to $3.50. Any more gains might send the price towards the $3.60 level or even $3.80.

On the downside, the first major support is near the $2.80 level. The next support is now forming near the $2.65 zone and the 55 simple moving average (4-hours). If there is a downside break below $2.65, the price might drop to $2.50. Any more losses might call for a move towards the $2.20 level in the near term.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading above the $2.80 level and the 55 simple moving average (4-hours). Overall, the price could resume increase if it clears the $3.02 resistance zone.

Technical indicators

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

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

Major Support Levels – $2.80 and $2.65.

Major Resistance Levels – $3.02 and $3.15.

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