- EOS price is trading in a bearish zone below the $0.785 support against the US Dollar.
- The price is now trading near $0.760 and the 55 simple moving average (4 hours).
- There is a key contracting triangle forming with resistance near $0.770 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to rise toward the $0.78 and $0.80 resistance levels.
EOS price is struggling below $0.80 against the US Dollar, like Bitcoin. The price might attempt to recover if there is a clear move above $0.78.
EOS Price Analysis
In the past few sessions, EOS price range moves below the $0.80 resistance against the US Dollar. The price remained stable above the $0.735 and $0.740 support levels.
A low is formed near $0.7379 and the price is now attempting an upside correction. There was a move above the $0.750 resistance level. Besides, there was a break above the 23.6% Fib retracement level of the downward move from the $0.8339 swing high to the $0.7379 low.
The price is now trading near $0.76 and the 55 simple moving average (4 hours). There is also a key contracting triangle forming with resistance near $0.770 on the 4-hour chart of the EOS/USD pair.
On the upside, immediate resistance is near the $0.77 level. The next major resistance is near the $0.785 level or the 50% Fib retracement level of the downward move from the $0.8339 swing high to the $0.7379 low, above which the price might test the $0.80 level.
Any more gains might send the price toward the $0.840 level. On the downside, immediate support is near the $0.74 level. The next key support is near the $0.735 level. If there is a downside break below the $0.735 support, the price could test the $0.70 support in the near term.
Looking at the chart, EOS price is now trading near the $0.76 level and the 55 simple moving average (4 hours). Overall, the price could continue to rise toward the $0.78 and $0.80 resistance levels in the near term.
Technical indicators
4 hours MACD – The MACD for EOS/USD is losing pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Major Support Levels – $0.740 and $0.735.
Major Resistance Levels – $0.780 and $0.800.