- EOS price started a fresh increase above the $0.92 resistance against the US Dollar.
- The price is now trading above $0.92 and the 55 simple moving average (4-hours).
- There was a break above a key rising channel with resistance near $0.955 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 $0.99 and $1.00 resistance levels.
EOS price is rising above $0.92 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $0.99 and $1.00 resistance levels.
EOS Price Analysis
This week, EOS price started a fresh increase from the $0.88 zone against the US Dollar. The price gained pace and was able to clear the $0.92 resistance zone.
The price broke the $0.95 resistance zone and the 55 simple moving average (4-hours). The bulls even pushed the price above the $0.98 level. However, the bears appeared near the $1.00 zone. Besides, there was a break above a key rising channel with resistance near $0.955 on the 4-hours chart of the EOS/USD pair.
A high is formed near $0.9951 and the price is now consolidating gains. On the upside, an immediate resistance is near the $0.995 level. The first major resistance is near the $1.00 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 $1.12 level. On the downside, an immediate support is near the $0.958. It is near the 50% Fib retracement level of the upward move from the $0.9225 swing low to $0.9951 high.
The next key support is near the $0.950. It is close to the 61.8% Fib retracement level of the upward move from the $0.9225 swing low to $0.9951 high. If there is a downside break below the $0.95 support, the price could revisit the $0.92 support.
Looking at the chart, EOS price is now trading above the $0.92 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it clears the $0.99 and $1.00 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 – $0.958 and $0.950.
Major Resistance Levels – $1.00 and $1.10.
