EOS price started a fresh decline below the .10 support against the US Dollar. The price is now trading below .10 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near .05 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 .05 and .10 resistance levels. EOS price is struggling below .10 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 past week, EOS price started a fresh decline below the .10 zone against the US Dollar. The price traded below the .05 and .00 levels to enter a bearish zone. The pair accelerated lower below the .00
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- EOS price started a fresh decline below the $1.10 support against the US Dollar.
- The price is now trading below $1.10 and the 55 simple moving average (4-hours).
- There is a major bearish trend line forming with resistance near $1.05 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 $1.05 and $1.10 resistance levels.
EOS price is struggling below $1.10 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 past week, EOS price started a fresh decline below the $1.10 zone against the US Dollar. The price traded below the $1.05 and $1.00 levels to enter a bearish zone.
The pair accelerated lower below the $1.00 support zone and settled well below the 55 simple moving average (4-hours). The recent low was formed near $0.9411 before the price started an upside correction. There was a move above the $1.00 resistance zone.
The price climbed above the 23.6% Fib retracement level of the downward move from the $1.235 swing high to $0.9411 low. However, the price faced sellers near $1.08 and the 55 simple moving average (4-hours).
On the upside, an immediate resistance is near the $1.050 level. There is also a major bearish trend line forming with resistance near $1.05 on the 4-hours chart of the EOS/USD pair. The next major resistance is near $1.080 or the 50% Fib retracement level of the downward move from the $1.235 swing high to $0.9411 low.
Any more gains might send the price towards the $1.15 level. On the downside, an immediate support is near the $1.00. The next key support is near the $0.950 level. If there is a downside break below the $0.950 support, the price could test the $0.920 support in the near term.
EOS Price
Looking at the chart, EOS price is now trading below the $1.10 level and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it stays below the $1.05 and $1.10 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 $0.950.
Major Resistance Levels – $1.05 and $1.15.