HomeAltcoin NewsEOS Price Analysis: Technical Indicators Suggest Increase To $0.64

EOS Price Analysis: Technical Indicators Suggest Increase To $0.64

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  • EOS price is eyeing a fresh increase from the $0.525 support against the US Dollar.
  • The price is now trading above $0.56 and the 55 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.5740 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to rise toward the $0.62 and $0.64 resistance levels.

EOS price is recovering above $0.56 against the US Dollar, like Bitcoin. The price might continue to rise if it clears the $0.60 resistance.

EOS Price Analysis

In the past few sessions, EOS price started a decent increase from the $0.5260 support against the US Dollar. The price was able to clear the $0.580 and $0.585 resistance levels.

The pair even climbed above the 50% Fib retracement level of the downward move from the $0.6434 swing high to the $0.5269 low. The price is now following a bullish path. It is trading above $0.56 and the 55 simple moving average (4 hours).

There is also a key bullish trend line forming with support near $0.5740 on the 4-hour chart of the EOS/USD pair. On the upside, immediate resistance is near the $0.600 level.

The 61.8% Fib retracement level of the downward move from the $0.6434 swing high to the $0.5269 low is also near the $0.600 zone. The next major resistance is near the $0.620 level, above which the price might test the $0.64 level. Any more gains might send the price toward the $0.65 level. The next major hurdle sits at $0.665.

On the downside, immediate support is near the $0.575 level and the trend line. The next key support is near the $0.560 level or the 55 simple moving average (4 hours). If there is a downside break below the $0.560 support, the price could test the $0.525 support in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above the $0.565 level and the 55 simple moving average (4 hours). Overall, the price could continue to rise toward the $0.62 and $0.64 resistance levels in the near term.

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 above the 50 level.

Major Support Levels – $0.574 and $0.560.

Major Resistance Levels – $0.60 and $0.64.

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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