- EOS started a fresh rise from the USD 4,000 support zone against the US dollar.
- The price is currently trading well above the USD 4,500 support and the simple moving average of 55 (4 hours).
- A major bullish trendline is forming on the 4-hour chart of the EOS / USD pair (data feed from Coinbase) with support near USD 4.420.
- The pair may correct lower but is likely to move back up above the USD 5,000 resistance zone.
EOS price is showing bullish signs against the US dollar above $ 4,500, similar to Bitcoin. The price is likely to remain above the $ 5,000 and $ 5,200 resistance levels.
EOS price analysis
This week EOS price formed a strong support base above the $ 4,000 and $ 4,200 levels against the US dollar. The price started rising again, removing some key hurdles near the $ 4,450 and $ 4,500 levels.
It even surged above the $ 4,800 resistance and was well above the simple moving average of 55 (4 hours). A high is being formed near $ 4.973 and the price is currently consolidating gains. It will test the $ 4,750 support level, which is close to the 23.6% Fib retracement level of the move up from the low of $ 4.075 to the high of $ 4.973.
The price is now trading well above the USD 4,500 support and the simple moving average of 55 (4 hours). The first major support is near the USD 4,520 level. A major bullish trendline is also forming on the 4-hour chart of the EOS / USD pair with support near USD 4.420.
The trendline is close to the 50% Fib retracement level of the move up from the low of $ 4.075 to the high of $ 4.973. If there is a downside break below the trendline support, the price could fall towards the USD 4,200 support level.
On the upside, there is a large hurdle waiting near $ 4,950 and $ 5,000. A clear break above the $ 5,000 zone could open the doors for a sharp rise. The next major resistance is at $ 5.250, above which the bulls are likely to target $ 5.500 or even $ 5.800.
EOS price
On the graph, the EOS price is well above $ 4,500 and the simple moving average of 55 (4 hours). Overall, the price could correct lower, but it is likely to move back up above the USD 5,000 resistance zone.
Technical indicators
4 Hour MACD – The EOS / USD MACD is showing positive signs in the bullish zone.
4 Hour Relative Strength Index (RSI) – The RSI is now well above the 60 level.
Major support levels – $ 4,520 and $ 4,450.
Main Resistance Levels – $ 4,950 and $ 5,000.
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