EOS Price Analysis: Rally Extends, Bulls Aim For $1
EOS price started a fresh increase above the $0.78 resistance against the US Dollar.
The price is now trading above $0.80 and the 55 simple moving average (4 hours).
There is a major bullish trend line forming with support near $0.855 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
The pair could continue to move up if it clears the $0.920 and $0.950 resistance levels.
EOS price is rising above $0.800 against the US Dollar, like Bitcoin. The price could resume its increase if it clears the $0.920 and $0.950 resistance levels.
EOS Price Analysis
This past week, EOS price started a decent increase above the $0.800 resistance against the US Dollar. The price formed a base and gained momentum above the $0.820 level.
The price was able to clear the $0.855 and $0.860 resistance levels. A high is formed near $0.9138 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $0.8000 swing low to the $0.9128 high.
EOS is now trading above $0.850 and the 55 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.855 on the 4-hour chart of the EOS/USD pair.
Immediate resistance is near the $0.9120 level. The first major resistance is near the $0.9200 zone. A clear move above the $0.920 level might send the price toward the $0.95 resistance. Any more gains might call for a test of the $1.00 level.
On the downside, immediate support is near $0.8550 and the trend line. The trend line is near the 50% Fib retracement level of the upward move from the $0.8000 swing low to the $0.9128 high.
The next key support is near $0.8280. If there is a downside break below the $0.8280 support, the price could revisit the $0.800 support. Any more losses might send the price toward $0.7650.
Looking at the chart, EOS price is now trading above the $0.850 level and the 55 simple moving average (4 hours). Overall, the price could continue to move up if it clears the $0.920 and $0.950 resistance levels.
Technical indicators
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 – $0.855 and $0.8280
Major Resistance Levels – $0.920 and $0.950.
The post EOS Price Analysis: Rally Extends, Bulls Aim For $1 appeared first on Live Bitcoin News.
Filed under: Bitcoin - @ December 28, 2023 4:08 am