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HomeAltcoin NewsEOS Price Analysis: Indicators Suggest Upside Break To $1.3

EOS Price Analysis: Indicators Suggest Upside Break To $1.3

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  • EOS price started a fresh increase from the $1.12 support against the US Dollar.
  • The price is now trading above $1.15 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $1.20 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 $1.24 and $1.25 resistance levels.

EOS price is rising above $1.18 against the US Dollar, similar to Bitcoin. The price could resume its increase if it clears the $1.240 and $1.250 resistance levels.

EOS Price Analysis

This past week, EOS price found support near the $1.175 support against the US Dollar. The price formed a base and started a fresh increase above the $1.195 level.

The price gained pace and climbed above the $1.20 and $1.22 resistance levels. A high was formed near $1.2533 before there was a downside correction. A low is formed near $1.1955 and the price is now consolidating losses. It is still trading above $1.20 and the 55 simple moving average (4 hours).

In immediate resistance is near the $1.224 level. It is close to the 50% Fib retracement level of the downward move from the $1.2533 swing high to the $1.1955 low.

The first major resistance is near the $1.240 level or the 76.4% Fib retracement level of the downward move from the $1.2533 swing high to the $1.1955 low. The main resistance is now near $1.25, above which the price could rise steadily. In the stated case, it could rise toward the $1.30 level.

Any more gains might send the price toward the $1.32 level. On the downside, immediate support is near $1.200. There is also a key bullish trend line forming with support near $1.20 on the 4-hours chart of the EOS/USD pair.

The next key support is near $1.175. If there is a downside break below the $1.175 support, the price could revisit the $1.150 support. If there is a downside break, the price could decline toward $1.05.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above the $1.15 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $1.24 and $1.25 resistance levels.

Technical indicators

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

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

Major Support Levels – $1.20 and $1.175

Major Resistance Levels – $1.24 and $1.25.

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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