HomeAltcoin NewsEOS Price Analysis: Uptrend Could Accelerate Above $1.10

EOS Price Analysis: Uptrend Could Accelerate Above $1.10

-

  • EOS price is eyeing a fresh increase from the $0.920 support against the US Dollar.
  • The price is now trading above $0.980 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance at $1.10 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to rise if it clears the $1.100 and $1.145 resistance levels.

EOS price is recovering above $0.920 against the US Dollar, like Bitcoin. The price might continue to rise if it clears the $1.100 resistance.

EOS Price Analysis

In the past few sessions, EOS price started a decent increase from the $0.920 support against the US Dollar. The price was able to clear the $0.945 and $0.980 resistance levels.

The pair even cleared the 50% Fib retracement level of the downward move from the $1.169 swing high to the $0.9119 low. The bulls were able to push the price above the $1.00 resistance. EOS is now trading above $0.980 and the 55 simple moving average (4 hours).

On the upside, immediate resistance is near the $1.10 level or the 76.4% Fib retracement level of the downward move from the $1.169 swing high to the $0.9119 low.

There is also a key bearish trend line forming with resistance at $1.10 on the 4-hour chart of the EOS/USD pair. The next major resistance is near the $1.145 level, above which the price might test the $1.180 level. Any more gains might send the price toward the $1.25 level. The next major hurdle sits at $1.32.

On the downside, immediate support is near the $1.040 level. The next key support is near the $0.980 level. If there is a downside break below the $0.980 support, the price could test the $0.920 support in the near term.

EOS Price
EOS Price

Looking at the chart, EOS price is now trading above the $1.00 level and the 55 simple moving average (4 hours). Overall, the price could continue to rise toward the $1.100 and $1.1450 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 – $1.040 and $0.980.

Major Resistance Levels – $1.10 and $1.1450.

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.

Upcoming Events

Most Popular