cryptocurrency

EOS Price Analysis: Bulls in action above $1.40

  • EOS price surged more than 15% and rose above the $1.50 resistance against the US Dollar.
  • The price is now trading above $1.40 and the 55 simple moving average (4 hours).
  • There was a breakout above the main contracting triangle with resistance near $1.30 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue rising if it remains above the $1.40 and $1.34 support levels.

EOS price is rising above $1.40 against the US Dollar, similar to Bitcoin. The price could resume its rise if it gets rid of the $1.50 and $1.55 resistance levels.

EOS Price Analysis

This week, EOS price started a new high from the $1.25 area against the US Dollar. The price picked up its pace and managed to clear the $1.30 resistance area.

The price broke the $1.35 resistance area and the 55 simple moving average (4-hours). Besides, there was a breakout above the major contracting triangle with resistance near $1.30 on the 4-hour chart of the EOS/USD pair. The bulls pushed the price above the $1.50 level.

However, the bears appeared near the $1.67 level. A top formed near $1.67 and the price started a downward correction. There was a move below $1.55 and $1.50.

The price fell below the 50% Fib retracement level of the upward move from the $1,240 swing low to $1,670 high. EOS is now trading above $1.40 and the 55 simple moving average (4 hours). On the upside, immediate resistance is near the $1.45 level.

The first major resistance is near the $1.50 level, above which the price could rise steadily. In the mentioned case, it could rise towards the $1.60 level. Any further gains could send the price towards the $1.65 level.

On the downside, immediate support is near $1.42. The next major support is near the $1.40 level. It is near the 61.8% Fib retracement level of the upward move from the $1,240 swing low to $1,670 high. If there is a downside break below the $1.40 support level, the price may revisit the $1.35 support level.

EOS price

look at me ScheduleEOS price is now trading above the $1.40 level and the 55 simple moving average (4 hours). In general, the price could continue rising if it stays above the $1.40 and $1.34 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 – $1.40 and $1.35.

Key resistance levels – $1.50 and $1.55.

Tags: EOS

#EOS #Price #Analysis #Bulls #action

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button