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EOS Price Analysis: More Gains Possible Above $1

Date:

  • 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.

EOS Price

EOS Price

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.

Tags: EOS

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