Wednesday , May 29 2024
Home / Altcoins / EOS Price Analysis: Bears In Control Below $0.80

EOS Price Analysis: Bears In Control Below $0.80

Summary:
Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up EOS price started a fresh decline from the %excerpt%.77 level against the US Dollar. The price is now trading below %excerpt%.720 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support near %excerpt%.718 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to decline if it stays below the %excerpt%.720 and %excerpt%.750 resistance levels. EOS price is struggling below %excerpt%.75 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above %excerpt%.720. EOS Price Analysis In the past few days, EOS price saw a major decline

Topics:
Aayush Jindal considers the following as important: , , ,

This could be interesting, too:

Bitcoin Schweiz News writes Geld verdienen mit einer Bitcoin-Börse: Chancen und Risiken

Steve Muchoki writes a16z Crypto Publishes Web3 Letter Ahead of Major Regulatory Clarity in US

staff writer writes Crypto Boom: Market Surges by 0B as BTC and ETH Hit 6-Week Highs

Temitope Olatunji writes Arthur Hayes Proposes Solution to Strengthen Yen and Its Impact on Dollar

EOS Price Analysis: Bears In Control Below $0.80

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up
  • EOS price started a fresh decline from the $0.77 level against the US Dollar.
  • The price is now trading below $0.720 and the 55 simple moving average (4 hours).
  • There was a break below a key bullish trend line with support near $0.718 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to decline if it stays below the $0.720 and $0.750 resistance levels.

EOS price is struggling below $0.75 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.720.

EOS Price Analysis

In the past few days, EOS price saw a major decline from the $0.900 resistance against the US Dollar. The price traded below the $0.85 and $0.80 levels to move into a bearish zone.

Recently, there was a minor correction from the $0.600 zone. However, upsides were limited above the $0.770 level. A high is formed near $0.7731 and the price is again moving lower. There was a move below the $0.720 support.

It traded below the 50% Fib retracement level of the upward move from the $0.6030 swing low to the $0.7731 high. Besides, there was a break below a key bullish trend line with support near $0.718 on the 4-hour chart of the EOS/USD pair.

EOS is trading well below $0.75 and the 55 simple moving average (4 hours). On the upside, immediate resistance is near the $0.720 level.

The first major resistance is near the $0.75 level. A clear move above the $0.75 level could start a steady increase toward the $0.78 level. The next major resistance might be $0.80. Any more gains might send the price toward the $0.850 level.

On the downside, immediate support is near $0.642. The next key support is near the $0.620 level. If there is a downside break below the $0.620 support, the price could test the $0.603 support in the near term.

EOS Price Analysis: Bears In Control Below $0.80

EOS Price

Looking at the chart, EOS price is now trading below the $0.75 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $0.720 and $0.750 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 below the 50 level.

Major Support Levels – $0.642 and $0.620.

Major Resistance Levels – $0.720 and $0.750.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *