Bitcoin

EOS Price Analysis: Downtrend Intact Below $0.80

1 Mins read

logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

  • EOS price started a fresh decline below the $0.80 level against the US Dollar.
  • The price is now trading below $0.750 and the 55 simple moving average (4 hours).
  • There is a short-term bearish trend line forming with resistance near $0.675 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to decline if it stays below the $0.675 and $0.750 resistance levels.

EOS price is struggling below $0.80 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.675.

EOS Price Analysis

In the past few days, EOS price saw a major decline from the $0.900 resistance against the US Dollar. The price traded below the $0.85 and $0.80 levels to move into a bearish zone.

The decline gained pace below the $0.750 level. It even spiked below $0.700. A low is formed near $0.6048 and the price is now consolidating losses. EOS is trading well below $0.80 and the 55 simple moving average (4 hours).

On the upside, immediate resistance is near the $0.675 level. There is also a short-term bearish trend line forming with resistance near $0.675 on the 4-hour chart of the EOS/USD pair. It is near the 23.6% Fib retracement level of the downward move from the $0.9040 swing high to the $0.6048 low.

The first major resistance is near the $0.75 level or the 50% Fib retracement level of the downward move from the $0.9040 swing high to the $0.6048 low.

A clear move above the $0.75 level could start a steady increase toward the $0.78 level. The next major resistance might be $0.80. Any more gains might send the price toward the $0.850 level. On the downside, immediate support is near $0.620.

The next key support is near the $0.600 level. If there is a downside break below the $0.600 support, the price could test the $0.550 support in the near term.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below the $0.80 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $0.675 and $0.750 resistance 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 – $0.620 and $0.600.

Major Resistance Levels – $0.675 and $0.750.

Tags:


Source link

Related posts
Bitcoin

CFTC Sues Pastor for Promoting $6 Million Crypto Ponzi Scheme to 1,500 Investors

2 Mins read
The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a Washington-based pastor, accusing him of promoting a crypto Ponzi scheme…
Bitcoin

Dogecoin Price Shooting For $4 As Long As It Holds This Critical Support Level

2 Mins read
A new Dogecoin price analysis reveals the potential for the number one meme coin to surge to a new all-time high at…
Bitcoin

Bitcoin On Track For $275,000? Analyst Cites Cup And Handle Formation

2 Mins read
Este artículo también está disponible en español. Bitcoin (BTC) fell to $94,500 yesterday after Microsoft shareholders decisively rejected a Bitcoin treasury proposal…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *