HomeAltcoin NewsEOS Price Analysis: Bulls In Control, Aim For $0.70

EOS Price Analysis: Bulls In Control, Aim For $0.70

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  • EOS price started a fresh increase above the $0.60 resistance against the US Dollar.
  • The price is now trading above $0.612 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.6295 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move up if it clears the $0.6600 and $0.6720 resistance levels.

EOS price is rising above $0.6200 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.6600 and $0.6720 resistance levels.

EOS Price Analysis

This past week, EOS price started a decent increase above the $0.565 resistance against the US Dollar. The price formed a base and gained momentum above the $0.580 level.

The price was able to clear the $0.605 and $0.620 resistance levels. A high is formed near $0.6616 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $0.5245 swing low to the $0.6616 high.

EOS is now trading above $0.620 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.6295 on the 4-hour chart of the EOS/USD pair.

Immediate resistance is near the $0.6600 level. The first major resistance is near the $0.6720 zone. The main resistance is now near $0.680, above which the price could rise steadily. In the stated case, it could rise toward the $0.70 level.

Any more gains might send the price toward the $0.7250 level. On the downside, immediate support is near $0.6300 and the trend line. The next key support is near $0.6150.

If there is a downside break below the $0.6150 support, the price could revisit the $0.600 support or the 50% Fib retracement level of the upward move from the $0.5245 swing low to the $0.6616 high. Any more losses might send the price toward $0.580.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above the $0.620 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.660 and $0.672 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 50 level.

Major Support Levels – $0.630 and $0.600

Major Resistance Levels – $0.660 and $0.672.

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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