• EOS started a strong increase above the $2.700 resistance zone against the US Dollar.
  • The price is currently trading above the $3.000 resistance level and the 55 simple moving average (4-hours).
  • There was a break above a crucial bearish trend line with resistance near $2.850 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move higher as long as it is above the $2.800 support zone.

EOS price started a fresh increase above the $2.700 and $2.800 levels against the US Dollar, similar to bitcoin. The price could continue to grind higher towards the $3.300 and $3.500 levels.

EOS Price Analysis

After forming a support base near the $2.650 zone, EOS price started a fresh increase against the US Dollar. Bitcoin price surged above the $20,000 level, sparking a sharp increase in EOS above $2.700.

There was a clear break above the $2.800 resistance level and the 55 simple moving average (4-hours). Moreover, there was a break above a crucial bearish trend line with resistance near $2.850 on the 4-hours chart of the EOS/USD pair.

The pair even surged above the 50% Fib retracement level of the key decline from the $3.340 high to $2.646 low. It opened the doors for more gains above the $3.000 resistance level.

The next key resistance is near the $3.180 level. It is close to the 76.4% Fib retracement level of the key decline from the $3.340 high to $2.646 low. A clear break above the $3.180 and $3.200 resistance levels could open the doors for another increase.

In the stated case, EOS price might rise steadily towards the $3.300 level. The next major resistance is seen near the $3.500 level. Conversely, the price might correct lower from $3.180 or $3.200.

An initial support is near the $3.000 level. A clear break below the $3.000 support level might call for an extended downside correction towards the $2.800 support level.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly trading in a positive zone above the $3.000 level and the 55 simple moving average (4-hours). Overall, the price could continue to move higher as long as it is above the $2.800 support zone.

Technical indicators

4-hours MACD – The MACD for EOS/USD is now gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is currently well above the 50 level.

Major Support Levels – $3.000 and $2.800.

Major Resistance Levels – $3.180 and $3.200.

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