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HomeAltcoin NewsEOS Price Analysis: Bears In Control Below $0.90

EOS Price Analysis: Bears In Control Below $0.90

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  • EOS price started a fresh decline below the $0.880 level against the US Dollar.
  • The price is now trading below $0.850 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.851 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 $0.850 and $0.875 resistance levels.

EOS price is struggling below $0.90 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.875.

EOS Price Analysis

In the past few days, EOS price saw a steady decline from the $0.912 resistance against the US Dollar. The price traded below the $0.90 and $0.88 levels to move into a bearish zone.

The decline gained pace below the $0.850 level. It even spiked below $0.820. A low is formed near $0.817 and the price is now consolidating losses. EOS is trading well below $0.850 and the 55 simple moving average (4 hours).

On the upside, immediate resistance is near the $0.840 level. It is near the 23.6% Fib retracement level of the downward move from the $0.9118 swing high to the $0.8170 low. There is also a key bearish trend line forming with resistance near $0.851 on the 4-hour chart of the EOS/USD pair.

The first major resistance is near the $0.875 level or the 76.4% Fib retracement level of the downward move from the $0.9118 swing high to the $0.8170 low.

A clear move above the $0.875 level could start a steady increase toward the $0.90 level. The next major resistance might be $0.912. Any more gains might send the price toward the $1.00 level. On the downside, immediate support is near $0.820.

The next key support is near the $0.812 level. If there is a downside break below the $0.812 support, the price could test the $0.800 support in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading below the $0.850 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $0.850 and $0.875 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 – $0.820 and $0.800.

Major Resistance Levels – $0.850 and $0.875.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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