HomeAltcoin NewsEOS Price Analysis: Signs of Uptrend Exhaustion Near $0.75

EOS Price Analysis: Signs of Uptrend Exhaustion Near $0.75

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  • EOS price is attempting another increase from the $0.638 support against the US Dollar.
  • The price is now trading below $0.700 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.708 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could start a fresh increase if it climbs above the $0.685 and $0.700 resistance levels.

EOS price is recovering above $0.660 against the US Dollar, like Bitcoin. The price might continue to rise if it clears the $0.700 resistance.

EOS Price Analysis

In the past few days, EOS price made a couple of attempts to clear the $0.750 resistance against the US Dollar. The price failed to extend gains and reacted to the downside.

There was a move below the $0.720 and $0.700 levels. It even spiked below $0.650. A low was formed near $0.6377 and the price is now recovering higher. There was a move above the $0.660 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.7304 swing high to the $0.6377 low.

EOS is now trading below $0.700 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.708 on the 4-hour chart of the EOS/USD pair.

On the upside, immediate resistance is near the $0.685 level. It is near the 50% Fib retracement level of the downward move from the $0.7304 swing high to the $0.6377 low. The next major resistance is near the $0.700 level or the trend line, above which the price might test the $0.735 level.

Any more gains might send the price toward the $0.750 level. The next major hurdle sits at $0.780. On the downside, immediate support is near the $0.658 level.

The next key support is near the $0.635 level. If there is a downside break below the $0.635 support, the price could test the $0.6120 support in the near term.

EOS Price
EOS Price Chart

Looking at the chart, EOS price is now trading below the $0.700 level and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it climbs above the $0.685 and $0.700 resistance levels.

Technical indicators

4 hours MACD – The MACD for EOS/USD is gaining pace in the bullish zone.

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

Major Support Levels – $0.658 and $0.635.

Major Resistance Levels – $0.685 and $0.700.

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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