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EOS Price Analysis: Bulls aim for further gains above $1.75

  • EOS price rose and managed to surpass the resistance level at $1.60 against the US Dollar.
  • The price is now trading above $1.60 and the 55 simple moving average (4 hours).
  • There is a descending channel forming with resistance near $1.75 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue rising if it remains above the $1.64 and $1.60 support levels.

EOS price rises above $1.60 against the US dollar, similar to Bitcoin. The price could resume its rise if it crosses the $1.75 and $1.76 resistance levels.

EOS Price Analysis

This week, EOS price started a new rally from the $1.30 area against the US Dollar. The price gained pace and managed to clear the $1.50 resistance area.

The price broke the $1.60 resistance area and the 55 simple moving average (4-hours). The bulls pushed the price above the $1.75 level. However, the bears appeared near the $1.95 level. A top formed near $1.950 and the price started a downside correction.

There was a move below the $1.80 and $1.75 levels. The price fell below the 23.6% Fib retracement level of the upward move from the $1,250 swing low to $1,950 high.

EOS is now trading above $1.60 and the 55 simple moving average (4 hours). On the upside, there is immediate resistance near the $1.75 level. There is also a bearish channel forming with resistance near $1.72 on the 4-hour chart of the EOS/USD pair.

The first major resistance is near the $1.75 level, above which the price could rise steadily. In the mentioned case, it could rise towards the $1.95 level. Any further gains could send the price towards the $2.00 level.

On the downside, immediate support is near $1.64. The next major support is near the $1.60 level. It is near the 61.8% Fib retracement level of the upward move from the $1,250 swing low to $1,950 high. If there is a downside break below the $1.60 support level, the price may revisit the $1.50 support level.

EOS price

look at me ScheduleEOS price is now trading above the $1.60 level and the 55 simple moving average (4 hours). In general, the price could continue rising if it stays above the $1.64 and $1.60 support levels.

Technical Indicators

4-hour MACD – The MACD for EOS/USD is gaining momentum in bearish territory.

4-hour RSI (Relative Strength Index) – The RSI is now above the 50 level.

Key support levels – $1.64 and $1.60.

Key resistance levels – $1.75 and $1.95.

Tags: EOS

#EOS #Price #Analysis #Bulls #aim #gains

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