EOS price is struggling below $1.00 against the US Dollar, similar to bitcoin. The price remains at a risk of a sharp decline below the $0.75 support.
EOS Price Analysis
This past week, EOS price started a fresh decline below the $1.00 zone against the US Dollar. The price traded below the $0.90 and $0.88 levels to enter a bearish zone.
The pair accelerated lower below the $0.85 support zone and settled well below the 55 simple moving average (4-hours). Besides, there was a break below a key bullish trend lien with support at $1.15 on the 4-hours chart of the EOS/USD pair.
The recent low was formed near $0.790 before the price is now consolidating losses. There was a minor move above the $0.820 resistance zone. On the upside, an immediate resistance is near the $0.850 level. The first major resistance is near the $0.890 level. It is near the 23.6% Fib retracement level of the downward move from the $1.217 swing high to $0.790 low.
The next major resistance is near $0.950, above which the price might test the 50% Fib retracement level of the downward move from the $1.217 swing high to $0.790 low.
Any more gains might send the price towards the $1.05 level. On the downside, an immediate support is near the $0.800. The next key support is near the $0.750 level. If there is a downside break below the $0.750 support, the price could test the $0.620 support in the near term.
Looking at the chart, EOS price is now trading below the $1.00 level and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it stays below the $0.90 and $0.92 resistance levels.
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 well below the 50 level.
Major Support Levels – $0.80 and $0.750.
Major Resistance Levels – $0.890 and $0.95.
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