EOS Price Analysis: Rally Could Resume Above $1.12

EOS price started a fresh increase above the $1.00 resistance against the US Dollar.
The price is now trading above $1.0 and the 55 simple moving average (4-hours).
There is a key bullish trend line forming with support near $1.065 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
The pair could continue to move up if it clears the $1.12 and $1.15 resistance levels.

EOS price is rising above $1.00 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.12 and $1.15 resistance levels.
EOS Price Analysis
This week, EOS price started a fresh increase from the $0.95 zone against the US Dollar. The price gained pace and was able to clear the $1.00 resistance zone.
The price broke the $1.05 resistance zone and the 55 simple moving average (4-hours). The bulls even pushed the price above the $1.10 level. However, the bears appeared near the $1.12 zone. A high is formed near $1.122 and the price is now consolidating gains.
On the upside, an immediate resistance is near the $1.11 level. The first major resistance is near the $1.12 level, above which the price could rise steadily.
In the stated case, it could rise towards the $1.15 level. Any more gains might send the price towards the $1.20 level. On the downside, an immediate support is near the $1.09. It is near the 23.6% Fib retracement level of the upward move from the $1.01 swing low to $1.122 high.
The next key support is near the $1.065. There is also a key bullish trend line forming with support near $1.065 on the 4-hours chart of the EOS/USD pair.
The trend line is near the 50% Fib retracement level of the upward move from the $1.01 swing low to $1.122 high. If there is a downside break below the $1.065 support, the price could revisit the $1.02 support.
EOS Price
Looking at the chart, EOS price is now trading above the $1.00 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it clears the $1.12 and $1.15 resistance levels.
Technical indicators
4-hours MACD – The MACD for EOS/USD is gaining pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Major Support Levels – $1.065 and $1.020.
Major Resistance Levels – $1.12 and $1.20.

Tags: EOS