- EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar.
- The price is now trading below $1.15 and the 55 simple moving average (4-hours).
- There was a break below a key rising channel with support near $1.10 the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to decline if it stays below the $1.12 and $1.15 resistance levels.
EOS price is struggling below $1.15 against the US Dollar, similar to bitcoin. The price might attempt to recover if there is a clear move above $1.12.
EOS Price Analysis
In the past few days, EOS price attempted a recovery wave from the $0.965 zone against the US Dollar. The price climbed above the $1.00 and $1.05 resistance levels.
The bulls were able to push the price above the $1.12 level and the 55 simple moving average (4-hours). The price cleared the 23.6% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low. However, the bears were active near the $1.15 resistance.
The price started a fresh decline from the $1.15 resistance zone. It failed to clear the 50% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low.
There was a break below a key rising channel with support near $1.10 the 4-hours chart of the EOS/USD pair. It is now trading below $1.15 and the 55 simple moving average (4-hours). On the downside, an immediate support is near the $1.00.
The next key support is near the $0.965 level. If there is a downside break below the $0.965 support, the price could test the $0.920 support in the near term.
On the upside, an immediate resistance is near the $1.10 level. The first major resistance is near the $1.15 level, above which the price might test the $1.200 level. A clear move above the $1.20 level could start a steady increase towards the $1.25 level. Any more gains might send the price towards the $1.30 level.
Looking at the chart, EOS price is now trading below the $1.15 level and the 55 simple moving average (4-hours). Overall, the price could continue to decline if it stays below the $1.12 and $1.15 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 – $1.00 and $0.965.
Major Resistance Levels – $1.12 and $1.15.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://www.livebitcoinnews.com/eos-price-analysis-upsides-could-be-limited-above-1-15/
- :is
- 10
- a
- Able
- above
- active
- against
- analysis
- and
- At
- attempted
- average
- BE
- bearish
- Bears
- below
- Break
- Bulls
- Channel
- Chart
- clear
- Climbed
- coinbase
- comments
- continue
- could
- data
- Days
- Decline
- Dollar
- downside
- downward
- EOS
- EOS price Analysis
- EOS/USD
- Failed
- few
- First
- follow
- For
- fresh
- from
- gaining
- Gains
- High
- However
- HTTPS
- immediate
- in
- Increase
- index
- internal
- IT
- Key
- Level
- levels
- Limited
- Low
- MACD
- major
- might
- more
- move
- moving
- moving average
- Near
- next
- of
- on
- overall
- Pace
- past
- plato
- Plato Data Intelligence
- PlatoData
- Post
- price
- Price Analysis
- Push
- Recover
- recovery
- relative strength index
- Resistance
- retracement
- rising
- rsi
- similar
- Simple
- start
- started
- steady
- strength
- Struggling
- support
- support levels
- TAG
- test
- The
- to
- towards
- Trading
- TradingView
- Upside
- us
- US Dollar
- Wave
- which
- with
- zephyrnet