- EOS price started a fresh increase from the $1.08 support against the US Dollar.
- The price is now trading above $1.15 and the 55 simple moving average (4-hours).
- There was a break above a key bearish trend line with resistance near $1.18 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 $1.22 and $1.232 resistance levels.
EOS price is rising above $1.15 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.220 and $1.232 resistance levels.
EOS Price Analysis
This past week, EOS price found support near the $1.08 support against the US Dollar. The price traded as low as $1.0731 and the price started a fresh increase.
The price gained pace and climbed above the $1.12 and $1.15 resistance levels. EOS price traded above the 50% Fib retracement level of the last key drop from the $1.3136 swing high to $1.0731 low. Besides, there was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
It is now showing a few positive signs above $1.15 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $1.22 level. It is close to the 61.8% Fib retracement level of the last key drop from the $1.3136 swing high to $1.0731 low.
The first major resistance is near the $1.232 level, above which the price could rise steadily. In the stated case, it could rise towards the $1.30 level.
Any more gains might send the price towards the $1.32 level. On the downside, an immediate support is near the $1.160 and the 55 simple moving average (4-hours). The next key support is near the $1.145. If there is a downside break below the $1.145 support, the price could revisit the $1.10 support.
If there is a downside break, the price could decline towards the $1.02. Any more losses could send the price towards the $1.00 level.
Looking at the chart, EOS price is now trading above the $1.15 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it clears the $1.22 and $1.232 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 – $1.16 and $1.145
Major Resistance Levels – $1.22 and $1.232.
