EOS Price Analysis: Can Bulls Start Fresh Rally?

• EOS price is recovering higher from the $0.880 support zone against the US Dollar.
• The price is now trading below $1.05 and the 55 simple moving average (4 hours).
• There is a key bearish trend line forming with resistance near $1.03 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
• The pair could start a fresh increase if it climbs above the $1.05 and $1.12 resistance levels.

EOS price is recovering above $0.95 against the US Dollar, like Bitcoin. The price might continue to rise if it clears the $1.050 resistance.

EOS Price Analysis

In the past few days, EOS price struggled to stay above the $1.250 resistance against the US Dollar. The price topped near $1.3631 and started a fresh decline.

There was a move below the $1.200 and $1.10 levels. It even spiked below $0.920. A low was formed near $0.8800 and the price is now recovering higher. There was a move above the $0.950 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1.3631 swing high to the $0.8800 low.

EOS is now trading below $1.050 and the 55 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $1.03 on the 4-hour chart of the EOS/USD pair.

On the upside, immediate resistance is near the $1.050 level and the trend line. The next major resistance is near the $1.120 level or the 50% Fib retracement level of the downward move from the $1.3631 swing high to the $0.8800 low, above which the price might test the $1.20 level.

Any more gains might send the price toward the $1.250 level. The next major hurdle sits at $1.350. On the downside, immediate support is near the $0.950 level.

The next key support is near the $0.880 level. If there is a downside break below the $0.880 support, the price could test the $0.800 support in the near term.

EOS Price

Looking at the chart, EOS price is now trading below the $1.05 level and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it climbs above the $1.050 and $1.120 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 – $0.950 and $0.880.

Major Resistance Levels – $1.050 and $1.120.

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