- 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.
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.
