• EOS price started a decent recovery from the $3.00 zone against the US Dollar.
  • The price is now trading just above $3.30 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $3.25 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could start a major increase if the bulls gain strength above the $3.45 and $3.50 levels.

EOS price is showing positive signs above $3.20 against the US Dollar, similar to bitcoin. The price could rally if there is a clear break above $3.45.

EOS Price Analysis

This past week, EOS price remained in a bearish zone below the $3.50 resistance zone against the US Dollar. The price traded below the $3.30 level and the 55 simple moving average (4-hours).

However, the bulls remained active near the $3.00 level. The last major swing low was near $2.98 and the price is now recovering higher. There was a clear move above the $3.20 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $3.892 swing high to $2.980 low.

Besides, there was a break above a major bearish trend line with resistance near $3.25 on the 4-hours chart of the EOS/USD pair. The pair is now trading just above $3.30 and the 55 simple moving average (4-hours).

An immediate resistance is near the $3.45 level. The 50% Fib retracement level of the downward move from the $3.892 swing high to $2.980 low is also near $3.45. A close above the $3.45 level could open the doors for a steady increase.

In the stated case, the price could even surge above the $3.50 level. The next key resistance is near the $3.80 level. On the downside, the first major support is near the $3.30 level. The main support is now forming near the $3.05 zone, below which there is a risk of a sharp move towards the $2.50 support.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading above $3.30 and the 55 simple moving average (4-hours). Overall, the price could start a major increase if the bulls gain strength above the $3.45 and $3.50 levels.

Technical indicators

4-hours MACD – The MACD for EOS/USD is slowly gaining pace in the bullish zone.

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

Major Support Levels – $3.30 and $3.00.

Major Resistance Levels – $3.50 and $4.00.

Tags:

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.