EOS Price Analysis: Indicators Suggest Fresh Rally To $3

  • EOS price is gaining momentum above the $2.550 and $2.600 resistance levels against the US Dollar.
  • The price is now trading well below the $2.550 pivot level and the 55 simple moving average (4-hours).
  • There is a major ascending channel forming with support near $2.620 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could continue to move higher above $2.700 as long as it is above the $2.550 pivot level.

EOS price is trading in a positive zone above $2.550 against the US Dollar, similar to bitcoin. The bulls seem to be in control and it seems like they are aiming a test of $3.000.

EOS Price Analysis

EOS price formed a strong support base above the $2.420 level against the US Dollar. As a result, the price started a steady increase above the $2.500 and $2.550 resistance levels.

During the rise, there was a break above a crucial declining channel with resistance near $2.520 on the 4-hours chart of the EOS/USD pair. There was a strong rise, and the pair settled above the $2.550 level and the 55 simple moving average (4-hours).

Finally, there was a break above the $2.600 level and the price traded as high as $2.688. The price is currently consolidating gains above the $2.620 support level.

An initial support is near the 23.6% Fib retracement level of the upward move from the $2.538 swing low to $2.688 high. Moreover, there is a major ascending channel forming with support near $2.620 on the same chart.

The channel support is close to the 50% Fib retracement level of the upward move from the $2.538 swing low to $2.688 high. If there is a downside break below the channel support and $2.600, the price could continue to correct lower towards the $2.550 support zone.

Conversely, the price might continue to move higher above the $2.650 and $2.700 levels. A successful break above the $2.700 resistance might open the doors for a push towards the $2.850 level. Any further gains could lead the price towards the $3.000 resistance.

EOS Price

EOS Price

Looking at the chart, EOS price is clearly following a nice uptrend above the $2.620 and $2.550 support levels. Overall, the price could continue to move higher above $2.700 as long as it is above the $2.550 pivot level.

Technical indicators

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

4-hours RSI (Relative Strength Index) – The RSI is currently well above the 60 level.

Major Support Levels – $2.620 and $2.550.

Major Resistance Levels – $2.700 and $2.850.

Join Geezgo for free. Use Geezgo’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>
Did you enjoy this post? Please comment below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 142 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *