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HomeAltcoin NewsEOS Price Analysis: Bulls Aim Upside Break above $5

EOS Price Analysis: Bulls Aim Upside Break above $5

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  • EOS price started a fresh increase above the $4.00 zone against the US Dollar.
  • The price is now trading above $4.50 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $4.60 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could accelerate higher if there is a clear break above $4.90 and $5.00.

EOS price is showing positive signs above $4.50 against the US Dollar, similar to bitcoin. The price eyes a key upside break above the $5.00 zone in the near term.

EOS Price Analysis

This week, EOS price started a fresh increase above the $4.20 level against the US Dollar. The price gained pace for a move above the $4.50 and $4.60 resistance levels.

There was also a close above the $4.50 support and the 55 simple moving average (4-hours). The price even spiked above $4.80 and a high was formed near $4.87. It is now consolidating gains above the $4.60 level. There was a minor decline below $4.70.

The price corrected below the 23.6% Fib retracement level of the upward move from the $3.86 swing low to $4.87 high. It is now holding gains above $4.60.

There is also a key bullish trend line forming with support near $4.60 on the 4-hours chart of the EOS/USD pair. The next major support is near the $4.40 level. It is near the 50% Fib retracement level of the upward move from the $3.86 swing low to $4.87 high.

If there is a downside break below the $4.40 support, there could be a move towards the $4.20 support. An immediate resistance is near the $4.80 level. The first key resistance is near the $4.85 level.

A close above the $4.85 level could open the doors for a steady increase. In the stated case, the price could rise towards the $5.00 level. The next key resistance is near the $5.25 level.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above $4.50 and the 55 simple moving average (4-hours). Overall, the price could accelerate higher if there is a clear break above $4.90 and $5.00.

Technical indicators

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

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

Major Support Levels – $4.60 and $4.50.

Major Resistance Levels – $4.85 and $5.00.

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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