HomeAltcoin NewsEOS Price Analysis: Signs of Fresh Increase To $4.80 Emerges

EOS Price Analysis: Signs of Fresh Increase To $4.80 Emerges

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  • EOS is likely forming a support base above the $3.150 zone against the US Dollar.
  • The price is currently trading above the $3.750 support and the 55 simple moving average (4-hours).
  • There was a break above a key contracting triangle with resistance near $3.820 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to start a strong increase above the $4.000 and $4.200 resistance levels.

EOS price is consolidating above $3.750 against the US Dollar, while bitcoin is rising. The price could gain bullish momentum once it clears the $4.000 resistance zone.

EOS Price Analysis

After a strong decline, EOS price found support near the $3.150 zone against the US Dollar. The price traded as low as $3.169 before starting a consolidation phase.

It formed a support base above the $3.200 level and recently started a decent recovery wave. There was a break above the $3.500 and $3.600 resistance levels. There was also a break above a key contracting triangle with resistance near $3.820 on the 4-hours chart of the EOS/USD pair.

The pair climbed above the 23.6% Fib retracement level of the downward move from the $5.475 swing high to $3.169 low. It is now consolidating above the $3.750 support and the 55 simple moving average (4-hours).

An initial resistance on the upside is near the $4.000 level. If there is an upside break above $4.000, the price could rise towards the $4.300 resistance. The 50% Fib retracement level of the downward move from the $5.475 swing high to $3.169 low is also near $4.322.

Any more gains could lead the price towards the $4.500 level in the near term. Conversely, there could be another decline below the $3.750 support zone. The next key support is near the $3.50 level.

If the bulls fail to defend the $3.500 support zone, there is a risk of a drop towards the $3.200 and $3.150 levels in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is clearly trading nicely above $3.750 and the 55 simple moving average (4-hours). Overall, the price could rise steadily if there is a clear break above $4.000 and $4.200.

Technical indicators

4-hours MACD – The MACD for EOS/USD is struggling to gain in the bullish zone.

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

Major Support Levels – $3.750 and $3.500.

Major Resistance Levels – $4.000 and $4.200.

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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