- EOS price is facing resistance near $1.00 and $1.05 against the US Dollar.
- The price is now trading above $0.950 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $0.970 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to move up if it stays above the $0.95 and $0.92 support levels.
EOS price is struggling below $1.05 against the US Dollar, similar to bitcoin. The price must stay above the $0.92 support zone to start a decent increase.
EOS Price Analysis
This past week, EOS price started a fresh decline from the $1.05 resistance zone against the US Dollar. The price declined below the $1.00 support zone.
However, the bulls were active near the $0.850 zone. A low was formed near $0.860 and the price started a recovery wave. The price climbed higher above the $0.90 and $0.92 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $1.040 swing high to $0.860 low.
It is now trading above $0.950 and the 55 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.970 on the 4-hours chart of the EOS/USD pair.
It is testing the 76.4% Fib retracement level of the downward move from the $1.040 swing high to $0.860 low. On the upside, an immediate resistance is near the $1.00 level. The first major resistance is near the $1.05 level, above which the price could rise steadily.
In the stated case, it could rise towards the $1.12 level. On the downside, an immediate support is near the $0.97 level. The next key support is near the $0.92 level. If there is a downside break below the $0.92 support, the price could revisit the $0.82 support zone.
EOS Price
Looking at the chart, EOS price is now trading above the $0.95 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it stays above the $0.95 and $0.92 support levels.
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 – $0.970 and $0.920.
Major Resistance Levels – $1.00 and $1.05.
Source: livebitcoinnews.com
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