EOS Price Analysis: Rally Extends, Bulls Aim For $0.75

• EOS price started a fresh increase above the $0.65 resistance against the US Dollar.
• The price is now trading above $0.665 and the 55 simple moving average (4 hours).
• There is a major bullish trend line forming with support near $0.680 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
• The pair could continue to move up if it clears the $0.7150 and $0.7200 resistance levels.

EOS price is rising above $0.6800 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.7120 and $0.7200 resistance levels.

EOS Price Analysis

This past week, EOS price started a decent increase above the $0.600 resistance against the US Dollar. The price formed a base and gained momentum above the $0.650 level.

The price was able to clear the $0.665 and $0.680 resistance levels. A high is formed near $0.7129 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $0.6281 swing low to the $0.7129 high.

EOS is now trading above $0.665 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.680 on the 4-hour chart of the EOS/USD pair.

Immediate resistance is near the $0.7120 level. The first major resistance is near the $0.7200 zone. A clear move above the $0.720 level might send the price toward the $0.75 resistance. Any more gains might call for a test of the $0.780 level.

On the downside, immediate support is near $0.6800 and the trend line. The next key support is near $0.6700. If there is a downside break below the $0.6700 support, the price could revisit the $0.6605 support or the 61.8% Fib retracement level of the upward move from the $0.6281 swing low to the $0.7129 high. Any more losses might send the price toward $0.6450.

Looking at the chart, EOS price is now trading above the $0.650 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.712 and $0.720 resistance levels.

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 – $0.680 and $0.660

Major Resistance Levels – $0.712 and $0.720.