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EOS Price Analysis: Bears In Control Below $1

  • EOS price is facing resistance near $1.00 and $1.05 against the US Dollar.
  • The price is now trading below $0.950 and the 55 simple moving average (4-hours).
  • There was a break below a key triangle pattern with support near $1.00 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move down if it stays below the $1.00 and $1.05 resistance levels.

EOS price is struggling below $1.05 against the US Dollar, similar to bitcoin. The price must stay above the $0.82 support zone to avoid more losses.

EOS Price Analysis

This week, EOS price started a fresh decline from the $1.05 resistance zone against the US Dollar. Earlier, the price started a recovery wave from the $0.820 support zone.

The price climbed higher above the $0.90 and $0.92 resistance levels. There was a move above the 23.6% Fib retracement level of the key decline from the $1.341 swing high to $0.820 low. The price even spiked above the $1.00 resistance.

However, the bears were active near the $1.05 level. As a result, there was another decline below the $1.00 level. There was a break below a key triangle pattern with support near $1.00 on the 4-hours chart of the EOS/USD pair.

The price is now trading below $0.950 and the 55 simple moving average (4-hours). On the downside, an immediate support is near the $0.92 level. The next key support is near the $0.85 level. If there is a downside break below the $0.85 support, the price could even break the $0.82 support zone in the near term.

On the upside, an immediate resistance is near the $0.98 level. The first major resistance is near the $1.00 level. The next major resistance sits near the $1.05 level, above which the price could test the 50% Fib retracement level of the key decline from the $1.341 swing high to $0.820 low.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below the $0.95 level and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it stays below the $1.00 and $1.05 resistance levels.

Technical indicators

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

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

Major Support Levels – $0.920 and $0.850.

Major Resistance Levels – $1.00 and $1.05.

Tags: EOS

Source: livebitcoinnews.com
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