- EOS price is eyeing a fresh increase from the $0.658 support against the US Dollar.
- The price is now trading above $0.700 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.6995 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
- The pair could continue to rise toward the $0.765 and $0.780 resistance levels.
EOS price is recovering above $0.700 against the US Dollar, like Bitcoin. The price might continue to rise if it clears the $0.734 resistance.
EOS Price Analysis
In the past few sessions, EOS price started a decent increase from the $0.6580 support against the US Dollar. The price was able to clear the $0.680 and $0.695 resistance levels.
The pair even climbed above the 50% Fib retracement level of the downward move from the $0.7564 swing high to the $0.6589 low. The price is now following a bullish path. It is trading above $0.700 and the 55 simple moving average (4 hours).
There is also a key bullish trend line forming with support near $0.6995 on the 4-hour chart of the EOS/USD pair. On the upside, immediate resistance is near the $0.735 level.
The 76.4% Fib retracement level of the downward move from the $0.7564 swing high to the $0.6589 low is also near the $0.734 zone. The next major resistance is near the $0.750 level, above which the price might test the $0.765 level. Any more gains might send the price toward the $0.780 level. The next major hurdle sits at $0.800.
On the downside, immediate support is near the $0.715 level. The next key support is near the $0.700 level or the 55 simple moving average (4 hours) or the trend line. If there is a downside break below the $0.700 support, the price could test the $0.658 support in the near term.
Looking at the chart, EOS price is now trading above the $0.700 level and the 55 simple moving average (4 hours). Overall, the price could continue to rise toward the $0.765 and $0.780 resistance levels in the near term.
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 – $0.714 and $0.700.
Major Resistance Levels – $0.735 and $0.750.
