EOS price started a recovery wave above the .50 resistance zone against the US Dollar. The price is now trading above .75 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near .68 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could resume increase if it clears the .89 resistance zone in the near term. EOS price is showing bullish signs above .75 against the US Dollar, similar to bitcoin. The price could continue to move up if it clears the .89 resistance. EOS Price Analysis This week, EOS price started a recovery wave from the .30 low against the US Dollar. The price was able to clear the .50 resistance zone to move into a bullish zone. There was a break above
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- EOS price started a recovery wave above the $2.50 resistance zone against the US Dollar.
- The price is now trading above $2.75 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $2.68 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could resume increase if it clears the $2.89 resistance zone in the near term.
EOS price is showing bullish signs above $2.75 against the US Dollar, similar to bitcoin. The price could continue to move up if it clears the $2.89 resistance.
EOS Price Analysis
This week, EOS price started a recovery wave from the $2.30 low against the US Dollar. The price was able to clear the $2.50 resistance zone to move into a bullish zone.
There was a break above a major bearish trend line with resistance near $2.68 on the 4-hours chart of the EOS/USD pair. The pair is now trading above $2.75 and the 55 simple moving average (4-hours). It traded as high as $2.89 and is currently consolidating gains.
An immediate resistance is seen near the $2.89 level. The next major resistance is near the $3.00 level. A clear upside break above the $3.00 resistance could start another steady increase.
The next major stop for the bulls may perhaps be near the $3.12 level. On the downside, the first major support is near the $2.75 level. It is near the 23.6% Fib retracement level of the recent increase from the $2.30 swing low to $2.89 high.
The next support is now forming near the $2.60 zone. It is close to the 50% Fib retracement level of the recent increase from the $2.30 swing low to $2.89 high.
If there is a downside break below $2.60, the price might drop to $2.50. Any more losses might call for a move towards the $2.30 level in the near term.
EOS Price
Looking at the chart, EOS price is now trading above the $2.75 level and the 55 simple moving average (4-hours). Overall, the price could resume increase if it clears the $2.89 resistance zone in the near term.
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 – $2.75 and $2.60.
Major Resistance Levels – $2.89 and $3.00.