- EOS price started a fresh increase above the $0.732 resistance against the US Dollar.
- The price is now trading above $0.740 and the 55 simple moving average (4 hours).
- There is a major bullish trend line forming with support near $0.7440 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to move up if it clears the $0.770 and $0.800 resistance levels.
EOS price is rising above $0.750 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.770 and $0.800 resistance levels.
EOS Price Analysis
This past week, EOS price started a decent increase above the $0.720 resistance against the US Dollar. The price formed a base and gained momentum above the $0.732 level.
The price was able to clear the $0.745 and $0.750 resistance levels. A high is formed near $0.7706 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $0.7183 swing low to the $0.7706 high.
EOS is now trading above $0.750 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.7440 on the 4-hour chart of the EOS/USD pair.
Immediate resistance is near the $0.770 level. The first major resistance is near the $0.800 zone. A clear move above the $0.800 level might send the price toward the $0.825 resistance. Any more gains might call for a test of the $0.90 level.
On the downside, immediate support is near $0.7550. The next key support is near $0.7440 and the trend line. The trend line is close to the 50% Fib retracement level of the upward move from the $0.7183 swing low to the $0.7706 high.
If there is a downside break below the $0.7440 support, the price could revisit the $0.7200 support. Any more losses might send the price toward $0.700.
Looking at the chart, EOS price is now trading above the $0.740 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.770 and $0.800 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 – $0.755 and $0.744
Major Resistance Levels – $0.770 and $0.800.
