- EOS price started a fresh increase above the $0.65 resistance against the US Dollar.
- The price is now trading above $0.665 and the 55 simple moving average (4 hours).
- There is a major bullish trend line forming with support near $0.680 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to move up if it clears the $0.7150 and $0.7200 resistance levels.
EOS price is rising above $0.6800 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.7120 and $0.7200 resistance levels.
EOS Price Analysis
This past week, EOS price started a decent increase above the $0.600 resistance against the US Dollar. The price formed a base and gained momentum above the $0.650 level.
The price was able to clear the $0.665 and $0.680 resistance levels. A high is formed near $0.7129 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $0.6281 swing low to the $0.7129 high.
EOS is now trading above $0.665 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.680 on the 4-hour chart of the EOS/USD pair.
Immediate resistance is near the $0.7120 level. The first major resistance is near the $0.7200 zone. A clear move above the $0.720 level might send the price toward the $0.75 resistance. Any more gains might call for a test of the $0.780 level.
On the downside, immediate support is near $0.6800 and the trend line. The next key support is near $0.6700. If there is a downside break below the $0.6700 support, the price could revisit the $0.6605 support or the 61.8% Fib retracement level of the upward move from the $0.6281 swing low to the $0.7129 high. Any more losses might send the price toward $0.6450.
Looking at the chart, EOS price is now trading above the $0.650 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.712 and $0.720 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 – $0.680 and $0.660
Major Resistance Levels – $0.712 and $0.720.
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