- EOS price started a downside correction from the $1.1420 zone against the US Dollar.
The price is now trading above $1.050 and the 55 simple moving average (4 hours).
There is a key bullish trend line forming with support near $1.0350 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
The pair could continue to move up if it stays above the $1.035 and $1.00 support levels.
The price of EOS is climbing over $1.05 versus the US Dollar, similar to Bitcoin‘s trend. A potential advance toward higher values may ensue if it doesn’t fall beneath $1.00 first.
EOS Price Analysis
Over the last several days, the EOS price has risen, breaking through the $1.050 barrier versus the US Dollar. It not only exceeded the $1.10 mark but also remained above the 55-hour moving average.
Near $1.1438, a peak formed in the price action. Following this, there was a noticeable decrease in price. The support at $1.120 gave way, and the decline continued below the 50% mark of the prior uptrend from $0.9354 low to $1.1438 high.
Despite the bulls being busy around the $1.00 mark acting as a safety net, a significant bullish trend line is shaping up on the 4-hour chart of EOS/USD pair near $1.0350. This trend line is approaching the 61.8% Fibonacci retracement level derived from the price rise between $0.9354 swing low and $1.1438 high.
Currently, the asset is trading at a price above $1.050 and the 4-hour Simple Moving Average (SMA) of $1.050. Looking up, the immediate resistance lies around $1.1080. The first significant resistance can be found near $1.1095, surpassing which could lead to a continuous price rise towards $1.1420. Further gains might push the price towards $1.20.
On the negative side, the price may find short-term resistance around $1.05. A more significant support lies at $1.00. If the price falls below this level, it might retest the support at $0.88.
According to the graph, EOS‘s current price is higher than both the $1.050 mark and the 4-hour simple moving average. If the price manages to surpass the $1.035 and $1.00 thresholds for support, it may potentially rise further.
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 – $1.050 and $1.00.
Major Resistance Levels – $1.1080 and $1.1420.
Read More
- Uncovering the Mystery of Red King Players in Clash Royale – What Reddit Users Have to Say
- UFO PREDICTION. UFO cryptocurrency
- The Last Epoch Dilemma: Confronting the Gold Dupe Crisis
- Finding Resources in Palworld: Tips from the Community
- BONE PREDICTION. BONE cryptocurrency
- Skull and Bones: Navigating the Quest for Extra Teeth in the Game
- Discovering the Infinite Power: The Abiotic Factor that Could Change Everything
- AAVE PREDICTION. AAVE cryptocurrency
- The 10 Best Movies of 2024 (So Far)
- Gaming News: Like a Dragon: Infinite Wealth’s Dondoko Island Takes Expansion to New Heights
2024-04-11 08:40