- EOS price is recovering higher from the $0.650 support zone against the US Dollar.
- The price is now trading near $0.682 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $0.688 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could start a fresh increase if it climbs above the $0.688 and $0.700 resistance levels.
EOS price is recovering above $0.670 against the US Dollar, like Bitcoin. The price might continue to rise if it clears the $0.700 resistance.
EOS Price Analysis
In the past few days, EOS price struggled to stay above the $0.700 resistance against the US Dollar. The price topped near $0.707 and started a fresh decline.
There was a move below the $0.700 and $0.688 levels. It even spiked below $0.660. A low was formed near $0.6571 and the price is now recovering higher. There was a move above the $0.665 level. The price cleared the 50% Fib retracement level of the downward move from the $0.7071 swing high to the $0.6571 low.
EOS is now trading near $0.682 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.688 on the 4-hour chart of the EOS/USD pair.
On the upside, immediate resistance is near the $0.688 level and the trend line. It is close to the 61.8% Fib retracement level of the downward move from the $0.7071 swing high to the $0.6571 low. The next major resistance is near the $0.700 level, above which the price might test the $0.725 level.
Any more gains might send the price toward the $0.750 level. The next major hurdle sits at $0.780. On the downside, immediate support is near the $0.668 level.
The next key support is near the $0.655 level. If there is a downside break below the $0.655 support, the price could test the $0.6120 support in the near term.
Looking at the chart, EOS price is now trading near the $0.682 level and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it climbs above the $0.688 and $0.700 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 near the 50 level.
Major Support Levels – $0.668 and $0.657.
Major Resistance Levels – $0.688 and $0.700.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/eos-price-analysis-can-bulls-clear-this-key-hurdle/
- :is
- 50
- 521
- 700
- 750
- a
- above
- against
- also
- analysis
- and
- At
- average
- bearish
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- Bulls
- CAN
- Chart
- clear
- Close
- coinbase
- continue
- could
- data
- Days
- Decline
- Dollar
- downside
- downward
- EOS
- EOS price Analysis
- EOS/USD
- Even
- few
- For
- formed
- fresh
- fresh increase
- from
- gaining
- Gains
- High
- higher
- HOURS
- HTTPS
- hurdle
- if
- immediate
- in
- Increase
- index
- IT
- Key
- Level
- levels
- like
- Line
- live
- Live Bitcoin News
- Low
- MACD
- major
- max-width
- might
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- recovering
- relative
- relative strength index
- Resistance
- retracement
- Rise
- rsi
- send
- Simple
- sits
- start
- started
- stay
- strength
- support
- support levels
- Swing
- term
- test
- The
- There.
- this
- to
- topped
- toward
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- was
- which
- with
- zephyrnet