HomeAltcoin NewsEOS Price Analysis: Risk of More Losses Below $0.73

EOS Price Analysis: Risk of More Losses Below $0.73

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  • EOS price started a fresh decline from the $0.80 zone against the US Dollar.
  • The price is now trading below $0.765 and the 55 simple moving average (4 hours).
  • There was a break below a key bullish trend line with support near $0.767 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to decline if it stays below the $0.760 and $0.780 resistance levels.

EOS price is struggling below $0.760 against the US Dollar, like Bitcoin. The price might attempt to recover if there is a clear move above $0.760.

EOS Price Analysis

In the past few days, EOS price saw a fresh decline from the $0.80 resistance against the US Dollar. The price traded below the $0.765 and $0.750 levels to move into a bearish zone.

Besides, there was a break below a key bullish trend line with support near $0.767 on the 4-hour chart of the EOS/USD pair. The pair even spiked below the $0.730 support. A low is formed near $0.7276 and the price is now consolidating losses.

EOS is trading well below $0.765 and the 55 simple moving average (4 hours). On the upside, immediate resistance is near the $0.760 level. It is close to the 50% Fib retracement level of the downward move from the $0.7915 swing high to the $0.7276 low.

The first major resistance is near the $0.765 level or the 61.8% Fib retracement level of the downward move from the $0.7915 swing high to the $0.7276 low. A clear move above the $0.765 level could start a steady increase toward the $0.78 level. The next major resistance might be $0.80. Any more gains might send the price toward the $0.850 level.

On the downside, immediate support is near $0.735. The next key support is near the $0.730 level. If there is a downside break below the $0.730 support, the price could test the $0.705 support in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading below the $0.765 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $0.765 and $0.780 resistance levels.

Technical indicators

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

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

Major Support Levels – $0.730 and $0.705.

Major Resistance Levels – $0.765 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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