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HomeAltcoin NewsEOS Price Analysis: Turns Attractive Above $5

EOS Price Analysis: Turns Attractive Above $5

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  • EOS started a fresh increase above the $4.20 resistance against the US Dollar.
  • The price is now trading above the $4.50 support and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $4.60 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair is likely to continue higher if it breaks the $5.10 and $5.25 resistance levels in the near term.

EOS price is showing positive signs above $4.60 against the US Dollar, similar to bitcoin. The price must clear $5.25 for more gains.

EOS Price Analysis

This week, EOS price saw a decent increase above the $4.20 resistance zone against the US Dollar. The price broke the $4.50 resistance level and the 55 simple moving average (4-hours) to move into a positive zone.

The price even spiked above the $5.00 level, but there was no upside continuation. A high is formed near $5.08 and the price is now consolidating gains. An initial support on the downside is near the $4.92 level. It is near the 23.6% Fib retracement level of the recent increase from the $4.41 swing low to $5.08 high.

The first major support is near the $4.75 zone. It coincides with the 50% Fib retracement level of the recent increase from the $4.41 swing low to $5.08 high.

There is also a major bullish trend line forming with support near $4.60 on the 4-hours chart of the EOS/USD pair. If there is a downside break below the trend line support, there could be a move towards the $4.40 support or the 55 simple moving average (4-hours).

On the upside, an initial resistance is near the $5.10 level. The next key resistance is near the $5.25 level, above which the price might rise towards the $5.50 level. Any more gains could lead the price towards the $6.00 level in the coming days.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above $4.50 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it breaks the $5.10 and $5.25 resistance levels in the near term.

Technical indicators

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

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

Major Support Levels – $4.75 and $4.60.

Major Resistance Levels – $5.10 and $5.25.

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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