HomeAltcoin NewsEOS Price Analysis: Signs of Fresh Increase Toward $0.95

EOS Price Analysis: Signs of Fresh Increase Toward $0.95

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  • EOS price is trading in a bearish zone below the $0.90 support against the US Dollar.
  • The price is now trading below $0.89 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.8760 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could start a fresh increase if it clears the $0.90 and $0.9250 resistance levels.

EOS price is struggling below $0.90 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.90.

EOS Price Analysis

In the past few days, EOS price range moves below the $0.925 resistance against the US Dollar. The price remained stable above the $0.820 and $0.828 support levels.

A low is formed near $0.8277 and the price is now attempting an upside correction. There was a move above the $0.850 and $0.865 resistance levels. Besides, there was a break above the 50% Fib retracement level of the downward move from the $0.9266 swing high to the $0.8277 low.

There is also a key bullish trend line forming with support near $0.8760 on the 4-hour chart of the EOS/USD pair. However, the price is still trading below $0.89 and the 55 simple moving average (4 hours).

On the upside, immediate resistance is near the $0.90 level or the 76.4% Fib retracement level of the downward move from the $0.9266 swing high to the $0.8277 low. The next major resistance is near the $0.925 level, above which the price might test the $0.95 level. Any more gains might send the price toward the $1.00 level.

On the downside, immediate support is near the $0.876 level or the trend line. The next key support is near the $0.85 level. If there is a downside break below the $0.850 support, the price could test the $0.826 support in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading below the $0.90 level and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.90 and $0.9250 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 – $0.876 and $0.85.

Major Resistance Levels – $0.90 and $0.925.

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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