EOS Price Analysis: Risk of More Losses Below $0.8

• EOS price is still struggling below the $0.95 support against the US Dollar.
• The price is now trading above $0.90 and the 55 simple moving average (4-hours).
• There was a break above a key bearish trend line with resistance near $0.890 the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
• The pair could might attempt to recover towards the $0.95 and $0.98 resistance levels.

EOS price is struggling below $0.95 against the US Dollar, similar to bitcoin. The price might attempt to rise if there is a clear move above $0.95.

EOS Price Analysis

Earlier this month, EOS price saw a major decline below the $1.00 zone against the US Dollar. The price traded below the $0.98 and $0.95 levels to enter a bearish zone.

The pair accelerated lower below the $0.92 support zone and settled well below the 55 simple moving average (4-hours). It traded as low as $0.7900 and recently started an upside correction. There was a minor move above the $0.880 resistance zone.

The price even climbed above the 23.6% Fib retracement level of the downward move from the $1.219 swing high to $0.790 low. Besides, there was a break above a key bearish trend line with resistance near $0.890 the 4-hours chart of the EOS/USD pair.

The price is now trading above $0.90 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.95 level.

The first major resistance is near the $1.00 level. It is near the 50% Fib retracement level of the downward move from the $1.219 swing high to $0.790 low, above which the price might test the $1.05 level. Any more gains might send the price towards the $1.10 level.

On the downside, an immediate support is near the $0.890. The next key support is near the $0.850 level. If there is a downside break below the $0.850 support, the price could test the $0.80 support in the near term.

Looking at the chart, EOS price is now trading above the $0.90 level and the 55 simple moving average (4-hours). Overall, the price could might attempt to recover towards the $0.95 and $0.98 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 above the 50 level.

Major Support Levels – $0.89 and $0.850.

Major Resistance Levels – $0.950 and $1.00.