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EOS Price Analysis: Bears In Control Below $2.60

Summary:
EOS price started a major decline from the .00 resistance zone against the US Dollar. The price is now trading below .60 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near .80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could resume decline if it stays below the .60 resistance zone. EOS price is showing bearish signs below .60 against the US Dollar, similar to bitcoin. The price could continue to move down if there is a break below .40. EOS Price Analysis This week, EOS price started a major decline from well above the .00 level against the US Dollar. The price declined below the .90 and .80 levels to enter a bearish zone. There was a break below a major

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  • EOS price started a major decline from the $3.00 resistance zone against the US Dollar.
  • The price is now trading below $2.60 and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $2.80 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could resume decline if it stays below the $2.60 resistance zone.

EOS price is showing bearish signs below $2.60 against the US Dollar, similar to bitcoin. The price could continue to move down if there is a break below $2.40.

EOS Price Analysis

This week, EOS price started a major decline from well above the $3.00 level against the US Dollar. The price declined below the $2.90 and $2.80 levels to enter a bearish zone.

There was a break below a major bullish trend line with support near $2.80 on the 4-hours chart of the EOS/USD pair. The pair settled below the $2.60 support and the 55 simple moving average (4-hours). A low is formed near $2.39 and the price is now consolidating losses.

An immediate resistance is seen near the $2.50 level. It is near the 23.6% Fib retracement level of the recent decline from the $2.950 swing high to $2.39 low.

The next major resistance is near the $2.60 level. The key hurdle is now near the $2.68 level. It is close to the 50% Fib retracement level of the recent decline from the $2.950 swing high to $2.39 low. A clear upside break above the $2.68 resistance could start a steady increase.

The next major stop for the bulls may perhaps be near the $2.80 level. On the downside, the first major support is near the $2.40 level. The next support is now forming near the $2.30 zone. If there is a downside break below $2.30, the price might drop to $2.20. Any more losses might call for a move towards the $2.05 level in the near term.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below the $2.60 level and the 55 simple moving average (4-hours). Overall, the price could resume decline if it stays below the $2.60 resistance zone.

Technical indicators

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

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

Major Support Levels – $2.40 and $2.30.

Major Resistance Levels – $2.60 and $2.68.

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