cryptocurrency

EOS Price Analysis: Major support near $1.30

  • EOS price started a new decline from the $1.95 resistance level against the US Dollar.
  • The price is now trading below $1.55 and the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $1.40 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could start a new increase if it stays above the $1.30 and $1.26 support levels.

EOS price drops below $1.55 against the US dollar, similar to Bitcoin. The price could start a new increase if it crosses the $1.40 and $1.45 resistance levels.

EOS Price Analysis

This week, EOS price started a new decline from the $1.80 area against the US Dollar. The price traded below $1.70 and $1.60 to enter a bearish zone.

The price broke the $1.55 support area and the 55 simple moving average (4-hours). The bears even pushed the price below the $1.40 level. The bottom formed near $1.34 and the price is now consolidating losses. On the upside, immediate resistance is near the $1.40 level.

There is also a major bearish trend line forming with resistance near $1.40 on the 4-hour chart of the EOS/USD pair. The first major resistance is near the $1.48 level. It is near the 23.6% Fib retracement level of the downside move from the $1.950 swing high to $1.340 low.

The main resistance is near the $1.50 level, above which the price could rise steadily. In the mentioned case, it could rise towards the $1.65 level. It is close to the 50% Fib retracement level of the downside move from $1.950 to the low of $1,340.

Any further gains could push the price towards the $1.80 level. On the downside, immediate support is near $1.35. The next major support is near the $1.30 level. If there is a downside break below the $1.30 support level, the price may revisit the $1.25 support level.

EOS price

look at me ScheduleEOS price is now trading below the $1.55 level and the 55 simple moving average (4 hours). In general, the price could start a new increase if it stays above the $1.30 and $1.26 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 below the 50 level.

Key support levels – $1.35 and $1.30.

Key resistance levels – $1.40 and $1.50.

Tags: EOS

#EOS #Price #Analysis #Major #support

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