EOS Price Analysis: Risk of More Losses Below $0.8

0

  • EOS price is still struggling below the $0.95 support against the US Dollar.
  • The price is now trading above $0.90 and the 55 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $0.890 the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could might attempt to recover towards the $0.95 and $0.98 resistance levels.

EOS price is struggling below $0.95 against the US Dollar, similar to bitcoin. The price might attempt to rise if there is a clear move above $0.95.

EOS Price Analysis

Earlier this month, EOS price saw a major decline below the $1.00 zone against the US Dollar. The price traded below the $0.98 and $0.95 levels to enter a bearish zone.

The pair accelerated lower below the $0.92 support zone and settled well below the 55 simple moving average (4-hours). It traded as low as $0.7900 and recently started an upside correction. There was a minor move above the $0.880 resistance zone.

The price even climbed above the 23.6% Fib retracement level of the downward move from the $1.219 swing high to $0.790 low. Besides, there was a break above a key bearish trend line with resistance near $0.890 the 4-hours chart of the EOS/USD pair.

The price is now trading above $0.90 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.95 level.

The first major resistance is near the $1.00 level. It is near the 50% Fib retracement level of the downward move from the $1.219 swing high to $0.790 low, above which the price might test the $1.05 level. Any more gains might send the price towards the $1.10 level.

On the downside, an immediate support is near the $0.890. The next key support is near the $0.850 level. If there is a downside break below the $0.850 support, the price could test the $0.80 support in the near term.

EOS Price

Looking at the chart, EOS price is now trading above the $0.90 level and the 55 simple moving average (4-hours). Overall, the price could might attempt to recover towards the $0.95 and $0.98 resistance levels.

Technical indicators

4-hours MACD – The MACD for EOS/USD is losing pace in the bearish zone.

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

Major Support Levels – $0.89 and $0.850.

Major Resistance Levels – $0.950 and $1.00.

Tags: EOS

Read original article here

Denial of responsibility! Yours Bulletin is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.