EOS price started a fresh decline after it failed to clear $1.1350 against the US Dollar.
    The price is now trading below $1.050 and the 55 simple moving average (4 hours).
    There was a break below a key bullish trend line with support at $1.10 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
    The pair could continue to decline if it stays below the $1.00 and $1.020 resistance levels.

The cost of Ethereum (EOS) vs the US Dollar is having a harder time holding above the $1.020 mark compared to Bitcoin. A potential price rebound may occur if EOS manages to break through this resistance level.

EOS Price Analysis

Over the last several days, the EOS price experienced a new drop, falling short of the $1.1350 barrier versus the U.S. Dollar. The value then dipped beneath the $1.110 and $1.050 support levels, placing it in a bearish trend.

On the 4-hour chart of EOS/USD, the trendline supporting the bullish run at $1.10 was breached, resulting in a drop below it. The pair also dipped beneath the 50% mark of the upward price movement from $0.880 to $1.1364’s peak.

The current price of EOS is under $1.050 and falls below its 4-hour simple moving average. It encounters resistance around the $1.00 mark, with the next hurdle at approximately $1.020.

If a rebound occurs, the cost could face challenges around the $1.020 mark. The next hurdle lies at approximately $1.075. A decisive rise above $1.075 may initiate a continuous climb towards $1.135. Further advancements may push the price up to around $1.20.

The disadvantage is that the immediate support lies around $0.940, which is approximately 76.4% of the distance between the swing low at $0.880 and the peak at $1.1364.

if the price drops and breaks the current support at around $0.88, it may further decline towards the next support level at approximately $0.75 within the short term.

EOS Price Analysis: Risk of More Losses Below $0.95 Escalates

Glancing at the graph, EOS‘s current price is sitting beneath the $1.050 mark and the 4-hour simple moving average (SMA) of $1.050. Should this trend persist with the price remaining below the resistances at $1.00 and $1.020, there’s a strong possibility for further decreases.

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 – $0.940 and $0.880.

Major Resistance Levels – $1.020 and $1.0750.

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2024-04-04 08:28