Crypto

EOS Price Analysis: Risk of Breakdown Below $4

EOS price started a fresh decline from the $5.00 resistance against the US Dollar. The price is now trading below $4.40 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $4.30 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could... The post EOS Price Analysis: Risk of Breakdown Below $4 appeared first on Live Bitcoin News. ...
  • EOS price started a fresh decline from the $5.00 resistance against the US Dollar.
  • The price is now trading below $4.40 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $4.30 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
  • The pair could start a major increase if there is a clear break above the $4.30 resistance.

EOS price is showing bearish signs below $4.30 against the US Dollar, similar to bitcoin. The price could decline further if there is a clear break below $4.00.

EOS Price Analysis

This past week, EOS price remained in a bearish zone below the $4.50 resistance zone against the US Dollar. The price even traded below the $4.30 level and the 55 simple moving average (4-hours).

There was also a push below the $4.20 support. The price even spiked below $4.00 and traded as low as $3.94. It is now consolidating losses above the $4.00 level. An immediate resistance is near the $4.20 level. It is close to the 23.6% Fib retracement level of the downward move from the $5.09 swing high to $3.94 low.

The first key resistance is near the $4.25 level and the 55 simple moving average (4-hours). There is also a major bearish trend line forming with resistance near $4.30 on the 4-hours chart of the EOS/USD pair.

A close above the $4.25 level could open the doors for a steady increase. In the stated case, the price could rise towards the $4.40 level. The next key resistance is near the $4.50 level. It is close to the 50% Fib retracement level of the downward move from the $5.09 swing high to $3.94 low.

On the downside, the first major support is near the $4.05 level. The main support is now forming near the $4.00 zone. If there is a downside break below the $4.00 support, there could be a move towards the $3.60 support.

EOS Price

EOS Price

Looking at the chart, EOS price is now trading below $4.40 and the 55 simple moving average (4-hours). Overall, the price could start a major increase if there is a clear break above the $4.30 resistance.

Technical indicators

4-hours MACD – The MACD for EOS/USD is slowly losing pace in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is now near the 50 level.

Major Support Levels – $4.05 and $4.00.

Major Resistance Levels – $4.25 and $4.40.

The post EOS Price Analysis: Risk of Breakdown Below $4 appeared first on Live Bitcoin News.

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