EOS Price Analysis: Bulls In Control Above $4.5

  • EOS price started a decent increase above the $4.65 zone against the US Dollar.
  • The price is now trading above $4.75 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $4.50 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could accelerate higher if it clears the $4.90 and $5.00 resistance levels.

EOS price is showing positive signs above $4.50 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the $5.00 resistance.

EOS Price Analysis

This week, EOS price started a steady increase above the $4.35 resistance zone against the US Dollar. The price formed a base above $4.40 and it was able to settle above the 55 simple moving average (4-hours).

There was a break above the $4.50 and $4.65 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $4.50 on the 4-hours chart of the EOS/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $5.068 swing high to $4.220 low.

The price is now trading below $4.75 and the 55 simple moving average (4-hours). It tested the 76.4% Fib retracement level of the downward move from the $5.068 swing high to $4.220 low.

An immediate resistance is near the $4.88 level. The first key resistance is near the $4.90 level. A close above the $4.90 level could open the doors for a steady increase. In the stated case, the price could rise towards the $5.05 level. The next key resistance is near the $5.35 level.

On the downside, the first major support is near the $4.75 level. The main support is now forming near the $4.60 zone and the 55 SMA. If there is a downside break below the $4.60 support, there could be a move towards the $4.20 support.

EOS Price

Looking at the chart, EOS price is now trading above $4.80 and the 55 simple moving average (4-hours). Overall, the price could accelerate higher if it clears the $4.90 and $5.00 resistance levels.

Technical indicators

4-hours MACD – The MACD for EOS/USD is slowly gaining pace in the bullish zone.

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

Major Support Levels – $4.75 and $4.60.

Major Resistance Levels – $4.90 and $5.00.

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