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EOS Price Analysis: More Losses Possible Below $1.20

Summary:
EOS price started a fresh decline from the .80 resistance against the US Dollar. The price is now trading below .5 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near .60 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could extend its decline below the .20 support zone in the near term. EOS price is gaining pace below .40 against the US Dollar, similar to bitcoin. The price must stay above the .20 support zone to avoid more losses. EOS Price Analysis This week, EOS price extended decline below the .80 support against the US Dollar. The price declined below the .75 support level to move further into a bearish zone. There was a clear move below the .50 level and the

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  • EOS price started a fresh decline from the $1.80 resistance against the US Dollar.
  • The price is now trading below $1.5 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $1.60 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could extend its decline below the $1.20 support zone in the near term.

EOS price is gaining pace below $1.40 against the US Dollar, similar to bitcoin. The price must stay above the $1.20 support zone to avoid more losses.

EOS Price Analysis

This week, EOS price extended decline below the $1.80 support against the US Dollar. The price declined below the $1.75 support level to move further into a bearish zone.

There was a clear move below the $1.50 level and the 55 simple moving average (4-hours). Finally, the price broke the $1.25 level and traded as low as $1.230. It is now consolidating and showing a lot of bearish signs below the $1.30 level.

On the downside, an immediate support is near the $1.20 level. The next key support is near the $1.12 level. If there is a downside break below the $1.12 support, the price could continue to move down towards the $1.00 level in the near term.

If there is an upside correction, the price might face resistance near the $1.38 level. It is near the 23.6% Fib retracement level of the recent decline from the $1.820 swing high to $1.230 low.

The first major resistance is near the $1.50 level. There is also a major bearish trend line forming with resistance near $1.60 on the 4-hours chart of the EOS/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $1.820 swing high to $1.230 low.

To start a fresh increase, the price must clear $1.50 and $1.60. In the stated case, the price could rise towards $1.80. The next key resistance could be $1.88.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below the $1.50 level and the 55 simple moving average (4-hours). Overall, the price could extend its decline below the $1.20 support zone in the near term.

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 in the oversold region.

Major Support Levels – $1.20 and $1.12.

Major Resistance Levels – $1.50 and $1.60.

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