EOS Price Analysis: Upsides Could be Limited above $1.15

• EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar.
• The price is now trading below $1.15 and the 55 simple moving average (4-hours).
• There was a break below a key rising channel with support near $1.10 the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
• The pair could continue to decline if it stays below the $1.12 and $1.15 resistance levels.

EOS price is struggling below $1.15 against the US Dollar, similar to bitcoin. The price might attempt to recover if there is a clear move above $1.12.

EOS Price Analysis

In the past few days, EOS price attempted a recovery wave from the $0.965 zone against the US Dollar. The price climbed above the $1.00 and $1.05 resistance levels.

The bulls were able to push the price above the $1.12 level and the 55 simple moving average (4-hours). The price cleared the 23.6% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low. However, the bears were active near the $1.15 resistance.

The price started a fresh decline from the $1.15 resistance zone. It failed to clear the 50% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low.

There was a break below a key rising channel with support near $1.10 the 4-hours chart of the EOS/USD pair. It is now trading below $1.15 and the 55 simple moving average (4-hours). On the downside, an immediate support is near the $1.00.

The next key support is near the $0.965 level. If there is a downside break below the $0.965 support, the price could test the $0.920 support in the near term.

On the upside, an immediate resistance is near the $1.10 level. The first major resistance is near the $1.15 level, above which the price might test the $1.200 level. A clear move above the $1.20 level could start a steady increase towards the $1.25 level. Any more gains might send the price towards the $1.30 level.

EOS Price

Looking at the chart, EOS price is now trading below the $1.15 level and the 55 simple moving average (4-hours). Overall, the price could continue to decline if it stays below the $1.12 and $1.15 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 – $1.00 and $0.965.

Major Resistance Levels – $1.12 and $1.15.

Tags: EOS