EOS Price Analysis: More Gains Possible, $2.30 Presents Resistance

• EOS price started a fresh increase from the $1.90 zone against the US Dollar.
• The price is now trading above $2.00 and the 55 simple moving average (4-hours).
• There was a break above a key bearish trend line with resistance near $1.972 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
• The pair could resume increase if it clears the $2.10 resistance zone.

EOS price is showing positive signs above $2.00 against the US Dollar, similar to bitcoin. The price could continue to rise if it manages to surpass $2.10.

EOS Price Analysis

This week, EOS price started a decent upward move wave from the $1.90 support zone against the US Dollar. The price was able to clear the $1.92 and $1.95 resistance levels.

There was a break above a key bearish trend line with resistance near $1.972 on the 4-hours chart of the EOS/USD pair. The pair climbed above the 38.2% Fib retracement level of the main drop from the $2.30 swing high to $1.870 low.

It is now trading above $2.00 and the 55 simple moving average (4-hours). However, the price is facing resistance near the $2.10 level. It is near the 50% Fib retracement level of the main drop from the $2.30 swing high to $1.870 low.

A clear upside break above the $2.10 resistance could start a steady increase. The next major resistance is near the $2.20 level. If there are additional gains above $2.20, the price could rise to $2.35. Any more gains might send the price towards the $2.50 level or even $2.60.

On the downside, the first major support is near the $2.00 level. The next support is now forming near the $1.98 zone and the 55 simple moving average (4-hours). If there is a downside break below $1.98, the price might drop to $1.90. Any more losses might call for a move towards the $1.80 level in the near term.

EOS Price

Looking at the chart, EOS price is now trading above the $2.00 level and the 55 simple moving average (4-hours). Overall, the price could resume increase if it clears the $2.10 resistance zone.

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 – $2.00 and $1.98.

Major Resistance Levels – $2.10 and $2.20.

Tags: EOS