HomeAltcoin NewsEOS Price Analysis: Rally Extends, Bulls Aim For $0.75

EOS Price Analysis: Rally Extends, Bulls Aim For $0.75

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  • EOS price started a fresh increase above the $0.65 resistance against the US Dollar.
  • The price is now trading above $0.665 and the 55 simple moving average (4 hours).
  • There is a major bullish trend line forming with support near $0.680 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 $0.7150 and $0.7200 resistance levels.

EOS price is rising above $0.6800 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.7120 and $0.7200 resistance levels.

EOS Price Analysis

This past week, EOS price started a decent increase above the $0.600 resistance against the US Dollar. The price formed a base and gained momentum above the $0.650 level.

The price was able to clear the $0.665 and $0.680 resistance levels. A high is formed near $0.7129 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 $0.6281 swing low to the $0.7129 high.

EOS is now trading above $0.665 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.680 on the 4-hour chart of the EOS/USD pair.

Immediate resistance is near the $0.7120 level. The first major resistance is near the $0.7200 zone. A clear move above the $0.720 level might send the price toward the $0.75 resistance. Any more gains might call for a test of the $0.780 level.

On the downside, immediate support is near $0.6800 and the trend line. The next key support is near $0.6700. If there is a downside break below the $0.6700 support, the price could revisit the $0.6605 support or the 61.8% Fib retracement level of the upward move from the $0.6281 swing low to the $0.7129 high. Any more losses might send the price toward $0.6450.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above the $0.650 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.712 and $0.720 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 – $0.680 and $0.660

Major Resistance Levels – $0.712 and $0.720.

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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