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EOS Price Analysis: Bulls Aim Steady Increase Above $1

  • EOS price started a fresh increase above the $0.95 resistance against the US Dollar.
  • The price is now trading above $0.95 and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.94 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move up if it clears the $1.00 and $1.02 resistance levels.

EOS price is rising above $0.95 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.00 and $1.02 resistance levels.

EOS Price Analysis

This week, EOS price started a fresh increase from the $0.90 zone against the US Dollar. The price gained pace and was able to clear the $0.95 resistance zone.

The price broke the $0.98 resistance zone and the 55 simple moving average (4-hours). The bulls even pushed the price above the $1.00 level. However, the bears appeared near the $1.02 level. A high is formed near $1.018 and the price is now consolidating gains.

On the upside, an immediate resistance is near the $1.00 level. The first major resistance is near the $1.02 level, above which the price could rise steadily. In the stated case, it could rise towards the $1.10 level. Any more gains might send the price towards the $1.15 level.

On the downside, an immediate support is near the $0.965. It is near the 50% Fib retracement level of the upward move from the $0.9176 swing low to $1.0188 high.

The next key support is near the $0.950. There is also a major bullish trend line forming with support near $0.94 on the 4-hours chart of the EOS/USD pair. It is close to the 76.4% Fib retracement level of the upward move from the $0.9176 swing low to $1.0188 high. If there is a downside break below the $0.94 support, the price could revisit the $0.912 support.

EOS Price

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 clears the $1.00 and $1.02 resistance 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 – $0.95 and $0.94.

Major Resistance Levels – $1.00 and $1.10.

Tags: EOS

Source: livebitcoinnews.com
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