EOS price started a fresh decline from the .25 resistance zone against the US Dollar. The price is now trading below .20 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near .165 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 .15 and .165 resistance levels. EOS price is struggling below .165 against the US Dollar, similar to Bitcoin. The price might attempt to recover if there is a clear move above .15. EOS Price Analysis In the past few days, EOS price climbed above the .20 resistance against the US Dollar. The price traded above the .22 and .25 resistance levels. However, the bears were active near the .30 zone. A
Topics:
Aayush Jindal considers the following as important: Altcoin News, EOS, News, Trading
This could be interesting, too:
Pareesh Phulkar writes P’Nut the Squirrel: Could This Be the Second Coming?
Bilal Hassan writes Sheila Warren to Step Down as CEO of CCI in January
Bilal Hassan writes Sui Partners with Ant Digital to Tokenize ESG Assets
Bilal Hassan writes Riot Platforms Boosts Bitcoin Holdings with 0 Million Purchase
- EOS price started a fresh decline from the $1.25 resistance zone against the US Dollar.
- The price is now trading below $1.20 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $1.165 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 $1.15 and $1.165 resistance levels.
EOS price is struggling below $1.165 against the US Dollar, similar to Bitcoin. The price might attempt to recover if there is a clear move above $1.15.
EOS Price Analysis
In the past few days, EOS price climbed above the $1.20 resistance against the US Dollar. The price traded above the $1.22 and $1.25 resistance levels.
However, the bears were active near the $1.30 zone. A high was formed near $1.2977 before there was a sharp decline. The price declined heavily below the $1.25 support. The bears were able to push the price below the $1.20 support and the 55 simple moving average (4 hours).
A low is formed near $1.081 and the price is now consolidating losses. On the upside, immediate resistance is near the $1.132 level. It is near the 23.6% Fib retracement level of the downward move from the $1.2977 swing high to the $1.0812 low.
The first major resistance is near the $1.15 level. There is also a key bearish trend line forming with resistance near $1.165 on the 4-hour chart of the EOS/USD pair.
A clear move above the $1.165 level could start a steady increase toward the $1.19 level or the 50% Fib retracement level of the downward move from the $1.2977 swing high to the $1.0812 low. Any more gains might send the price toward the $1.25 level.
On the downside, immediate support is near $1.08. The next key support is near the $1.02 level. If there is a downside break below the $1.02 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 $1.20 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $1.15 and $1.165 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 – $1.08 and $1.02.
Major Resistance Levels – $1.15 and $1.165.