EOS Price Analysis: More Gains Possible Above $2.8

• EOS price started a fresh increase above the $2.45 resistance zone against the US Dollar.
• The price is now trading above $2.50 and the 55 simple moving average (4-hours).
• There is a key bullish trend line forming with support near $2.45 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
• The pair could extend increase if it stays above the $2.45 support zone.

EOS price is showing bullish signs above $2.50 against the US Dollar, similar to bitcoin. The price could continue to rise unless there is a clear move below $2.45.

EOS Price Analysis

This past week, EOS price saw a decent increase above the $2.25 resistance zone against the US Dollar. There was also a close above the $2.50 level and the 55 simple moving average (4-hours).

The price even surged above the $2.70 level. A high is formed near $2.770 and the price is now correcting gains. It already spiked below the 23.6% Fib retracement level of the upward move from the $2.230 swing low to $2.770 low.

However, it is trading above $2.50 and the 55 simple moving average (4-hours). On the downside, the first major support is near the $2.50 level. It is near the 50% Fib retracement level of the upward move from the $2.230 swing low to $2.770 low.

The next support is now forming near the $2.450 zone. There is also a key bullish trend line forming with support near $2.45 on the 4-hours chart of the EOS/USD pair. If there is a downside break below $2.45, the price might drop to $2.35.

Any more losses might call for a move towards the $2.25 level in the near term. An initial resistance on the upside is near the $2.70 level. The main resistance is still near the $2.80 level.

A clear move above the $2.80 level is needed to gain bullish momentum in the near term. The next major resistance is near $3.00, above which the price could rise to $3.20.

EOS

Looking at the chart, EOS price is now trading above $2.30 and the 55 simple moving average (4-hours). Overall, the price could extend increase if it stays above the $2.45 support zone.

Technical indicators

4-hours MACD – The MACD for EOS/USD is losing pace in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is now above the 50 level.

Major Support Levels – $2.50 and $2.45.

Major Resistance Levels – $2.70 and $2.80.

Tags: EOS