- EOS price is trading in a bearish zone below the $0.90 support against the US Dollar.
- The price is now trading below $0.89 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.8760 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could start a fresh increase if it clears the $0.90 and $0.9250 resistance levels.
EOS price is struggling below $0.90 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.90.
EOS Price Analysis
In the past few days, EOS price range moves below the $0.925 resistance against the US Dollar. The price remained stable above the $0.820 and $0.828 support levels.
A low is formed near $0.8277 and the price is now attempting an upside correction. There was a move above the $0.850 and $0.865 resistance levels. Besides, there was a break above the 50% Fib retracement level of the downward move from the $0.9266 swing high to the $0.8277 low.
There is also a key bullish trend line forming with support near $0.8760 on the 4-hour chart of the EOS/USD pair. However, the price is still trading below $0.89 and the 55 simple moving average (4 hours).
On the upside, immediate resistance is near the $0.90 level or the 76.4% Fib retracement level of the downward move from the $0.9266 swing high to the $0.8277 low. The next major resistance is near the $0.925 level, above which the price might test the $0.95 level. Any more gains might send the price toward the $1.00 level.
On the downside, immediate support is near the $0.876 level or the trend line. The next key support is near the $0.85 level. If there is a downside break below the $0.850 support, the price could test the $0.826 support in the near term.
Looking at the chart, EOS price is now trading below the $0.90 level and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $0.90 and $0.9250 resistance levels.
Technical indicators
4 hours MACD – The MACD for EOS/USD is losing pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Major Support Levels – $0.876 and $0.85.
Major Resistance Levels – $0.90 and $0.925.
