EOS price is showing positive signs above $2.00 against the US Dollar, similar to bitcoin. The price could continue to rise if it manages to surpass $2.10.
EOS Price Analysis
This week, EOS price started a decent upward move wave from the $1.90 support zone against the US Dollar. The price was able to clear the $1.92 and $1.95 resistance levels.
There was a break above a key bearish trend line with resistance near $1.972 on the 4-hours chart of the EOS/USD pair. The pair climbed above the 38.2% Fib retracement level of the main drop from the $2.30 swing high to $1.870 low.
It is now trading above $2.00 and the 55 simple moving average (4-hours). However, the price is facing resistance near the $2.10 level. It is near the 50% Fib retracement level of the main drop from the $2.30 swing high to $1.870 low.
A clear upside break above the $2.10 resistance could start a steady increase. The next major resistance is near the $2.20 level. If there are additional gains above $2.20, the price could rise to $2.35. Any more gains might send the price towards the $2.50 level or even $2.60.
On the downside, the first major support is near the $2.00 level. The next support is now forming near the $1.98 zone and the 55 simple moving average (4-hours). If there is a downside break below $1.98, the price might drop to $1.90. Any more losses might call for a move towards the $1.80 level in the near term.
Looking at the chart, EOS price is now trading above the $2.00 level and the 55 simple moving average (4-hours). Overall, the price could resume increase if it clears the $2.10 resistance zone.
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 – $2.00 and $1.98.
Major Resistance Levels – $2.10 and $2.20.
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