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EOS Price Analysis: Downside Break Could Trigger Heavy Losses

Summary:
EOS price started a fresh decline from the .20 resistance against the US Dollar. The price is now trading just above .10 and the 55 simple moving average (4-hours). There was a break below a major contracting triangle with support near .18 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move down if it stays below the .10 and .12 resistance levels. EOS price is struggling below .20 against the US Dollar, similar to bitcoin. The price remains at a risk of a sharp decline below the .00 support. EOS Price Analysis This week, EOS price started a fresh decline from the .20 zone against the US Dollar. The price traded below the .15 and .12 levels to enter a bearish zone. There was a break below a major

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  • EOS price started a fresh decline from the $1.20 resistance against the US Dollar.
  • The price is now trading just above $1.10 and the 55 simple moving average (4-hours).
  • There was a break below a major contracting triangle with support near $1.18 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move down if it stays below the $1.10 and $1.12 resistance levels.

EOS price is struggling below $1.20 against the US Dollar, similar to bitcoin. The price remains at a risk of a sharp decline below the $1.00 support.

EOS Price Analysis

This week, EOS price started a fresh decline from the $1.20 zone against the US Dollar. The price traded below the $1.15 and $1.12 levels to enter a bearish zone.

There was a break below a major contracting triangle with support near $1.18 on the 4-hours chart of the EOS/USD pair. The pair accelerated lower below the $1.10 support zone and settled well below the 55 simple moving average (4-hours).

The recent low was formed near $1.006 and the price is now consolidating losses. The price is now showing bearish signs below the $1.10 level, with a bearish angle. On the upside, an immediate resistance is near the $1.060 level. It is near the 23.6% Fib retracement level of the downward move from the $1.234 swing high to $1.006 low.

The next major resistance is near $1.10 or the 50% Fib retracement level of the downward move from the $1.234 swing high to $1.006 low or the 55 simple moving average (4-hours), above which it could test $1.15.

Any more gains might send the price towards the $1.20 level. On the downside, an immediate support is near the $1.00. The next key support is near the $0.980 level. If there is a downside break below the $0.980 support, the price could test the $0.920 support.

EOS Price Analysis: Downside Break Could Trigger Heavy Losses

EOS Price

Looking at the chart, EOS price is now trading below the $1.15 level and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it stays below the $1.10 and $1.12 resistance 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 well below the 50 level.

Major Support Levels – $1.000 and $0.980.

Major Resistance Levels – $1.06 and $1.10.

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