- EOS price started a fresh decline after it failed to clear $1.150 against the US Dollar.
The price is now trading below $1.00 and the 55 simple moving average (4 hours).
There is a declining channel forming with resistance at $0.770 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 $0.775 and $0.80 resistance levels.
The EOS currency value is having a harder time staying above the $1 mark versus the US dollar, in contrast to Bitcoin. A potential recovery may occur if the price surges past the $0.80 threshold.
EOS Price Analysis
Recently, the EOS price experienced a new drop, dipping below the $1.150 barrier against the US dollar. It then slipped beneath the $1.10 and $1.00 thresholds, entering a bearish trend.
The duo dipped below the $0.850 support mark as well. Later on, the buyers emerged around the $0.660 area. A new low was established at $0.6595, and now the price is making an effort to rebound. We witnessed a surge above the hurdles at $0.700 and $0.715.
The price dipped to touch the 23.6% Fibonacci mark of its decline from $1.1506 peak to $0.6595 trough in EOS‘s chart. Currently, the cryptocurrency is below $0.80 and under the 4-hour Simple Moving Average (SMA), with resistance emerging around $0.770.
On the EOS/USD 4-hour chart, there’s a developing downward trendline with resistance at $0.770. Following this, resistance lies in the vicinity of the $0.80 area. Should the price experience a rebound, it may encounter difficulties around the $0.800 mark.
An upcoming potential resistance point lies around the 50% Fibonacci retracement mark in the downward trend from $1.1506 peak to $0.6595 low, which is approximately $0.90. If the price breaks above $0.90, it could initiate a consistent upward trend towards $1.00. Further advancements may push the price upwards toward the $1.150 level.
On the negative side, the cryptocurrency’s immediate support lies around $0.70. If this level gives way, the next significant support is expected at approximately $0.66. In such a scenario, the price may encounter resistance at $0.62 in the not too distant future.
Examining the graph, the EOS price currently is selling for less than $0.80 and falls beneath its 4-hour simple moving average. If the price remains below the resistance of $0.7750 and $0.80, there’s a strong possibility it will drop further.
Technical indicators
4 hours MACD – The MACD for EOS/USD is losing pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI is now below the 50 level.
Major Support Levels – $0.700 and $0.660.
Major Resistance Levels – $0.7750 and $0.800.
Read More
- CKB PREDICTION. CKB cryptocurrency
- PBX PREDICTION. PBX cryptocurrency
- BSW PREDICTION. BSW cryptocurrency
- EUR INR PREDICTION
- ‘Starting 5’: LeBron James, Jayson Tatum and Jimmy Butler Among NBA Players Featured in Obamas-Produced Sports Series
- IMX PREDICTION. IMX cryptocurrency
- GEAR PREDICTION. GEAR cryptocurrency
- Exploring the Hilarious World of Helldivers’ Ricochet Gameplay
- ICP PREDICTION. ICP cryptocurrency
- TANK PREDICTION. TANK cryptocurrency
2024-04-18 08:23