HomeAltcoin NewsEOS Price Analysis: Rally Extends, Bulls Aim For $1

EOS Price Analysis: Rally Extends, Bulls Aim For $1

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  • EOS price started a fresh increase above the $0.78 resistance against the US Dollar.
  • The price is now trading above $0.80 and the 55 simple moving average (4 hours).
  • There is a major bullish trend line forming with support near $0.855 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 $0.920 and $0.950 resistance levels.

EOS price is rising above $0.800 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.920 and $0.950 resistance levels.

EOS Price Analysis

This past week, EOS price started a decent increase above the $0.800 resistance against the US Dollar. The price formed a base and gained momentum above the $0.820 level.

The price was able to clear the $0.855 and $0.860 resistance levels. A high is formed near $0.9138 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 $0.8000 swing low to the $0.9128 high.

EOS is now trading above $0.850 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.855 on the 4-hour chart of the EOS/USD pair.

Immediate resistance is near the $0.9120 level. The first major resistance is near the $0.9200 zone. A clear move above the $0.920 level might send the price toward the $0.95 resistance. Any more gains might call for a test of the $1.00 level.

On the downside, immediate support is near $0.8550 and the trend line. The trend line is near the 50% Fib retracement level of the upward move from the $0.8000 swing low to the $0.9128 high.

The next key support is near $0.8280. If there is a downside break below the $0.8280 support, the price could revisit the $0.800 support. Any more losses might send the price toward $0.7650.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above the $0.850 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.920 and $0.950 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 – $0.855 and $0.8280

Major Resistance Levels – $0.920 and $0.950.

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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