EOS price rallied over 15% and climbed above the .50 resistance against the US Dollar. The price is now trading above .40 and the 55 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near .30 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move up if it stays above the .40 and .34 support levels. EOS price is rising above .40 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the .50 and .55 resistance levels. EOS Price Analysis This week, EOS price started a fresh increase from the .25 zone against the US Dollar. The price gained pace and was able to clear the .30 resistance zone. The price broke the .35
Topics:
Aayush Jindal considers the following as important: Altcoin News, EOS, News, Trading
This could be interesting, too:
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
Bhushan Akolkar writes Cardano Investors Continue to Be Hopeful despite 11% ADA Price Drop
Bena Ilyas writes Stablecoin Transactions Constitute 43% of Sub-Saharan Africa’s Volume
Chimamanda U. Martha writes Crypto Exchange ADEX Teams Up with Unizen to Enhance Trading Experience for Users
- EOS price rallied over 15% and climbed above the $1.50 resistance against the US Dollar.
- The price is now trading above $1.40 and the 55 simple moving average (4-hours).
- There was a break above a key contracting triangle with resistance near $1.30 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to move up if it stays above the $1.40 and $1.34 support levels.
EOS price is rising above $1.40 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.50 and $1.55 resistance levels.
EOS Price Analysis
This week, EOS price started a fresh increase from the $1.25 zone against the US Dollar. The price gained pace and was able to clear the $1.30 resistance zone.
The price broke the $1.35 resistance zone and the 55 simple moving average (4-hours). Besides, there was a break above a key contracting triangle with resistance near $1.30 on the 4-hours chart of the EOS/USD pair. The bulls even pushed the price above the $1.50 level.
However, the bears appeared near the $1.67 level. A high was formed near $1.67 and the price started a downside correction. There was a move below the $1.55 and $1.50 levels.
The price declined below the 50% Fib retracement level of the upward move from the $1.240 swing low to $1.670 high. EOS is now trading above $1.40 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $1.45 level.
The first major resistance is near the $1.50 level, above which the price could rise steadily. In the stated case, it could rise towards the $1.60 level. Any more gains might send the price towards the $1.65 level.
On the downside, an immediate support is near the $1.42. The next key support is near the $1.40 level. It is near the 61.8% Fib retracement level of the upward move from the $1.240 swing low to $1.670 high. If there is a downside break below the $1.40 support, the price could revisit the $1.35 support.
EOS Price
Looking at the chart, EOS price is now trading above the $1.40 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it stays above the $1.40 and $1.34 support levels.
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 above the 50 level.
Major Support Levels – $1.40 and $1.35.
Major Resistance Levels – $1.50 and $1.55.