HomeAltcoin NewsEOS Price Analysis: Key Uptrend Support Nearby

EOS Price Analysis: Key Uptrend Support Nearby

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  • EOS price is trading in a bearish zone below the $0.785 support against the US Dollar.
  • The price is now trading near $0.760 and the 55 simple moving average (4 hours).
  • There is a key contracting triangle forming with resistance near $0.770 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to rise toward the $0.78 and $0.80 resistance levels.

EOS price is struggling below $0.80 against the US Dollar, like Bitcoin. The price might attempt to recover if there is a clear move above $0.78.

EOS Price Analysis

In the past few sessions, EOS price range moves below the $0.80 resistance against the US Dollar. The price remained stable above the $0.735 and $0.740 support levels.

A low is formed near $0.7379 and the price is now attempting an upside correction. There was a move above the $0.750 resistance level. Besides, there was a break above the 23.6% Fib retracement level of the downward move from the $0.8339 swing high to the $0.7379 low.

The price is now trading near $0.76 and the 55 simple moving average (4 hours). There is also a key contracting triangle forming with resistance near $0.770 on the 4-hour chart of the EOS/USD pair.

On the upside, immediate resistance is near the $0.77 level. The next major resistance is near the $0.785 level or the 50% Fib retracement level of the downward move from the $0.8339 swing high to the $0.7379 low, above which the price might test the $0.80 level.

Any more gains might send the price toward the $0.840 level. On the downside, immediate support is near the $0.74 level. The next key support is near the $0.735 level. If there is a downside break below the $0.735 support, the price could test the $0.70 support in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading near the $0.76 level and the 55 simple moving average (4 hours). Overall, the price could continue to rise toward the $0.78 and $0.80 resistance levels in the near term.

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 above the 50 level.

Major Support Levels – $0.740 and $0.735.

Major Resistance Levels – $0.780 and $0.800.

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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