- EOS price started a fresh increase from the $1.00 support against the US Dollar.
- The price is now trading above $1.05 and the 55 simple moving average (4-hours).
- There is a major connecting trend line forming with resistance near $1.15 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to move up if it clears the $1.135 and $1.150 resistance levels.
EOS price is rising above $1.05 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.135 and $1.150 resistance levels.
EOS Price Analysis
This past week, EOS price found support near the $1.0 support against the US Dollar. The price traded as low as $0.9994 and the price started a fresh increase.
The price gained pace and climbed above the $1.02 and $1.05 resistance levels. The price traded above the 50% Fib retracement level of the last main decline from the $1.156 swing high to $0.9994 low. It is now showing a few positive signs above $1.05 and the 55 simple moving average (4-hours).
On the upside, an immediate resistance is near the $1.12 level. It is close to the 76.4% Fib retracement level of the last main decline from the $1.156 swing high to $0.9994 low.
The first major resistance is near the $1.135 level. There is also a major connecting trend line forming with resistance near $1.15 on the 4-hours chart of the EOS/USD pair, above which the price could rise steadily. In the stated case, it could rise towards the $1.165 level.
Any more gains might send the price towards the $1.20 level. On the downside, an immediate support is near the $1.075. The next key support is near the $1.06. If there is a downside break below the $1.06 support, the price could revisit the $1.035 support.
If there is a downside break, the price could decline towards the $1.00. Any more losses could send the price towards the $0.975 level.
Looking at the chart, EOS price is now trading above the $1.05 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it clears the $1.135 and $1.150 resistance levels.
Technical indicators
4-hours MACD – The MACD for EOS/USD is gaining pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now above the 60 level.
Major Support Levels – $1.06 and $1.020.
Major Resistance Levels – $1.135 and $1.150.
