EOS Price Analysis: Key Support Nearby At $4.10

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
  • EOS price started a downside correction from the $5.50 resistance against the US Dollar.
  • The price is now trading below $4.50 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $4.75 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could move down further if there is a downside break below the $4.10 support.

EOS price is showing bearish signs below $4.50 against the US Dollar, similar to bitcoin. The price could decline further if there is a clear break below $4.10.

EOS Price Analysis

This past week, EOS price started a steady increase above the $4.60 resistance zone against the US Dollar. The price even climbed above the $5.00 zone and the 55 simple moving average (4-hours).

However, the price failed to clear the $5.35 resistance zone. The recent swing high was formed near $5.10 before there was a sharp decline. The price declined heavily below the $5.00 and $4.80 levels. There was also a push below the $4.50 support and the 55 simple moving average (4-hours).

The price even spiked below $4.20 and traded as low as $4.07. It is now consolidating losses above the $4.10 level. There was a break above the 23.6% Fib retracement level of the downward move from the $5.09 swing high to $4.07 low.

An immediate resistance is near the $4.50 level. The first key resistance is near the $5.60 level. It is near the 50% Fib retracement level of the downward move from the $5.09 swing high to $4.07 low.

There is also a key bearish trend line forming with resistance near $4.75 on the 4-hours chart of the EOS/USD pair. A close above the $4.75 level could open the doors for a steady increase. In the stated case, the price could rise towards the $5.00 level. The next key resistance is near the $5.35 level.

On the downside, the first major support is near the $4.20 level. The main support is now forming near the $4.10 zone. If there is a downside break below the $4.10 support, there could be a move towards the $3.50 support.

EOS Price

Looking at the chart, EOS price is now trading below $4.50 and the 55 simple moving average (4-hours). Overall, the price could move down further if there is a downside break below the $4.10 support.

Technical indicators

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

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

Major Support Levels – $4.20 and $4.10.

Major Resistance Levels – $4.50 and $4.75.

Tags: EOS

Don’t Stop Here

More To Explore

Join the Convo!

New
Telegram
Channel

Get the latest crypto news, promotions and join in on the conversation right in our new Crypto Post Telegram Channel.