- EOS price started a fresh decline after it failed to clear $0.900 against the US Dollar.
- The price is now trading below $0.825 and the 55 simple moving average (4 hours).
- There was a break below a key bullish trend line with support near $0.860 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to decline if it stays below the $0.804 and $0.825 resistance levels.
EOS price is struggling below $0.825 against the US Dollar, like Bitcoin. The price might attempt to recover if there is a clear move above $0.825.
EOS Price Analysis
In the past few days, EOS price saw a fresh decline from the $0.900 resistance against the US Dollar. The price traded below the $0.850 and $0.825 levels to move into a bearish zone.
There was a break below a key bullish trend line with support near $0.860 on the 4-hour chart of the EOS/USD pair. The pair even traded below the $0.755 support. A low has formed near $0.7113, and the price is now consolidating losses.
If there is a recovery wave, the price might struggle near the $0.804 zone. It is near the 50% Fib retracement level of the downward move from the $0.8955 swing high to the $0.7113 low.
EOS is trading well below $0.825 and the 55 simple moving average (4 hours). On the upside, immediate resistance is near the $0.804 level. The first major resistance is near the $0.825 level. It is near the 61.8% Fib retracement level of the downward move from the $0.8955 swing high to the $0.7113 low.
The next resistance is near $0.850. A clear move above the $0.850 level could start a steady increase toward the $0.900 level. Any more gains might send the price toward the $0.935 level.
On the downside, immediate support is near $0.745. The next key support is near the $0.7120 level. If there is a downside break below the $0.7120 support, the price could test the $0.6850 support in the near term.
Looking at the chart, EOS price is now trading below the $0.825 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $0.804 and $0.825 resistance levels.
Technical indicators
4 hours MACD – The MACD for EOS/USD is gaining pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI is now below the 50 level.
Major Support Levels – $0.745 and $0.712.
Major Resistance Levels – $0.804 and $0.825.
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