EOS price started a fresh decline from the .30 zone against the US Dollar. The price is now trading below .00 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near .10 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could extend losses if there is a clear break below the .75 support. EOS price is showing bearish signs below .00 against the US Dollar, similar to bitcoin. The price could recover if there is a clear break above .00. EOS Price Analysis This past week, EOS price remained in a bearish zone below the .30 resistance zone against the US Dollar. The price traded below the .00 level and the 55 simple moving average (4-hours). The pair is now trading below .00 and
Topics:
Aayush Jindal considers the following as important: Altcoin News, EOS, News, Trading
This could be interesting, too:
Pareesh Phulkar writes P’Nut the Squirrel: Could This Be the Second Coming?
Bilal Hassan writes Sheila Warren to Step Down as CEO of CCI in January
Bilal Hassan writes Sui Partners with Ant Digital to Tokenize ESG Assets
Bilal Hassan writes Riot Platforms Boosts Bitcoin Holdings with 0 Million Purchase
- EOS price started a fresh decline from the $3.30 zone against the US Dollar.
- The price is now trading below $3.00 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $3.10 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could extend losses if there is a clear break below the $2.75 support.
EOS price is showing bearish signs below $3.00 against the US Dollar, similar to bitcoin. The price could recover if there is a clear break above $3.00.
EOS Price Analysis
This past week, EOS price remained in a bearish zone below the $3.30 resistance zone against the US Dollar. The price traded below the $3.00 level and the 55 simple moving average (4-hours).
The pair is now trading below $3.00 and the 55 simple moving average (4-hours). The price even spiked below the $2.85 level. A low is formed near $2.78 and the price is now consolidating losses. An initial resistance on the upside is near the $2.90 level. It is near the 23.6% Fib retracement level of the downward move from the $3.28 swing high to $2.780 low.
The next key resistance is near the $3.00 level. It coincides with the 50% Fib retracement level of the downward move from the $3.28 swing high to $2.780 low.
Besides, there is a key bearish trend line forming with resistance near $3.10 on the 4-hours chart of the EOS/USD pair. A clear move above the $3.10 level is needed to gain bullish momentum in the near term. The next major resistance is near $3.30.
On the downside, the first major support is near the $2.82 level. The main support is now forming near the $2.75 zone, below which there is a risk of a sharp move towards the $2.50 support. Any more losses might call for a move towards the $2.20 level in the near term.
EOS Price
Looking at the chart, EOS price is now trading below $3.00 and the 55 simple moving average (4-hours). Overall, the price could extend losses if there is a clear break below the $2.75 support.
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 30 level.
Major Support Levels – $2.75 and $2.50.
Major Resistance Levels – $3.00 and $3.10.