EOS Price Analysis: Key Support Nearby At $1.30

EOS Price Analysis

EOS Price Analysis: Key Support Nearby At $1.30

EOS price started a fresh decline from the $1.95 resistance against the US Dollar.
The price is now trading below $1.55 and the 55 simple moving average (4-hours).
There is a major bearish trend line forming with resistance near $1.40 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
The pair could start a fresh increase if it stays above the $1.30 and $1.26 support levels.

EOS price is declining below $1.55 against the US Dollar, similar to bitcoin. The price could start a fresh increase if it clears the $1.40 and $1.45 resistance levels.
EOS Price Analysis
This week, EOS price started a fresh decline from the $1.80 zone against the US Dollar. The price traded below the $1.70 and $1.60 levels to enter a bearish zone.
The price broke the $1.55 support zone and the 55 simple moving average (4-hours). The bears even pushed the price below the $1.40 level. A low is formed near $1.34 and the price is now consolidating losses. On the upside, an immediate resistance is near the $1.40 level.
There is also a major bearish trend line forming with resistance near $1.40 on the 4-hours chart of the EOS/USD pair. The first major resistance is near the $1.48 level. It near the 23.6% Fib retracement level of the downward move from the $1.950 swing high to $1.340 low.
The main resistance sits near the $1.50 level, above which the price could rise steadily. In the stated case, it could rise towards the $1.65 level. It is near the 50% Fib retracement level of the downward move from the $1.950 swing high to $1.340 low.
Any more gains might send the price towards the $1.80 level. On the downside, an immediate support is near the $1.35. The next key support is near the $1.30 level. If there is a downside break below the $1.30 support, the price could revisit the $1.25 support.
EOS Price
Looking at the chart, EOS price is now trading below the $1.55 level and the 55 simple moving average (4-hours). Overall, the price could start a fresh increase if it stays above the $1.30 and $1.26 support 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 – $1.35 and $1.30.
Major Resistance Levels – $1.40 and $1.50.

Tags: EOS

Leave a Reply

Your email address will not be published.

New Brokers
2.8 rating
Buy & sell Crypto in minutes
3.0 rating
Note: Investing involves risks. You can lose your deposit. We advise you to only invest in financial products which match your knowledge and experience.
2.0 rating
Interactive Brokers attracts active traders with low per-share pricing, an advanced trading platform.
4.3 rating
eToro is the world’s leading social trading platform, with thousands of options for traders and investors.
AdonFinance
Risk Warning: The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by AdonFinance. In addition, the content of the website offers no opinion with respect to the suitability of any security or any specific investment. Trading foreign exchange, stocks, cryptocurrencies and commodities is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before any investment with any broker you need to carefully consider your targets, previous experience, and risk level. Forex trading can result in the loss of your money, as a result, you are expressly cautioned that you should never invest or trade with money that you cannot afford to lose. For the avoidance of doubt, AdonFinance's service provides Brokers reviews in the Financial market. AdonFinance, its subsidiaries, agents or affiliates will assume no responsibility whatsoever for your trading activity. © Copyright 2021 AdonFinance