EOS Price Prediction: The Stage is Set For Further Upsides To $8.00

EOS price started a steady rise along with bitcoin, and climbed above the $6.200 and $6.500 resistance levels. The price remains in a solid uptrend and it could extend gains towards $8.00.

• EOS price broke the key $6.800 pivot level to enter a positive zone.
• The bulls are currently attempting an upside break above $7.100 on the 2-hours chart.
• The price is likely to climb further higher towards the $7.500 and $8.000 resistance levels.

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EOS Price Analysis & Prediction

The recent strength in bitcoin sparked bullish moves in EOS above the $6.00 support. The price gained bullish momentum above the $6.200 and $6.500 resistance levels to start a steady uptrend.

Click to Enlarge Chart

Looking at the 2-hours chart of EOS/USD, the pair settled well above the $6.500 level and the 25 simple moving average (2-hours). It even surpassed the main $6.800 pivot level to set the stage for more upsides.

During the recent rise, the price surpassed a couple of bearish trend lines and finally broke the $7.000 resistance level. It even climbed above $7.200 and traded to a new monthly high at $7.224.

Recently, there was a downside correction below the $7.00 level, and the 23.6% Fib retracement level of the latest wave from the $6.367 low to $7.224 high.

However, losses were confined and the price found support near $6.900 plus the 25 simple moving average (2-hours). At the moment, EOS bulls are attempting an upside break above $7.100 and a contracting triangle on the same chart.

If there is a successful push above $7.100 and $7.150, the price is likely to surge above the $7.200 level. The next key resistance is near the $7.500 level, above which EOS is likely to climb higher towards the $8.000 barrier.

Alternatively, if there is a downside break below the $7.000 support and 25 simple moving average (2-hours), the price could retest the $6.800 support or the 50% Fib retracement level of the latest wave from the $6.367 low to $7.224 high.

Overall, EOS is showing a lot of positive signs, with chances of more upsides above the $7.200 and $7.400 levels.

The market data is provided by TradingView, Bitfinex.

   

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