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EOS Price Analysis: Key Hurdle Could Spark Fresh Increase

Summary:
EOS price started a downside correction from the .200 resistance against the US Dollar. The price is now trading below .15 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near .150 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 .150 and .20 resistance levels. EOS price is declining from .200 against the US Dollar, similar to bitcoin. The price could accelerate lower if there is a clear move below the .065 support. EOS Price Analysis This past week, EOS price climbed further higher above the .15 resistance zone against the US Dollar. The price surpassed the .18 level and settled above the 55 simple moving average

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  • EOS price started a downside correction from the $1.200 resistance against the US Dollar.
  • The price is now trading below $1.15 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $1.150 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 $1.150 and $1.20 resistance levels.

EOS price is declining from $1.200 against the US Dollar, similar to bitcoin. The price could accelerate lower if there is a clear move below the $1.065 support.

EOS Price Analysis

This past week, EOS price climbed further higher above the $1.15 resistance zone against the US Dollar. The price surpassed the $1.18 level and settled above the 55 simple moving average (4-hours).

A high was formed near $1.2349 before the price started a downside correction. The price declined below the $1.22 support to move into a short-term bearish zone. Besides, there was a break below a key bullish trend line with support near $1.150 on the 4-hours chart of the EOS/USD pair.

The pair even traded below the 50% Fib retracement level of the upward move from the $0.9627 swing low to $1.2349 high. It is now trading below $1.15 and the 55 simple moving average (4-hours).

On the downside, an immediate support is near the $1.08. The next key support is near the $1.065. It is near the 61.8% Fib retracement level of the upward move from the $0.9627 swing low to $1.2349 high. If there is a downside break below the $1.065 support, the price could revisit the $1.000 support.

On the upside, an immediate resistance is near the $1.150 level. The first major resistance is near the $1.20 level, above which the price could rise steadily.

The main resistance is still near $1.230. A clear move above the $1.230 level might call for more upsides. In the stated case, it could rise towards the $1.28 level. Any more gains might send the price towards the $1.300 level.

EOS Price Analysis: Key Hurdle Could Spark Fresh Increase

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 $1.150 and $1.20 resistance levels.

Technical indicators

4-hours MACD – The MACD for EOS/USD is losing pace in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is now below the 50 level.

Major Support Levels – $1.08 and $1.065.

Major Resistance Levels – $1.15 and $1.20.

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