EOS Price Analysis: Turns Attractive Above $5

EOS price is showing positive signs above $4.60 against the US Dollar, similar to bitcoin. The price must clear $5.25 for more gains.

EOS Price Analysis

This week, EOS price saw a decent increase above the $4.20 resistance zone against the US Dollar. The price broke the $4.50 resistance level and the 55 simple moving average (4-hours) to move into a positive zone.

The price even spiked above the $5.00 level, but there was no upside continuation. A high is formed near $5.08 and the price is now consolidating gains. An initial support on the downside is near the $4.92 level. It is near the 23.6% Fib retracement level of the recent increase from the $4.41 swing low to $5.08 high.

The first major support is near the $4.75 zone. It coincides with the 50% Fib retracement level of the recent increase from the $4.41 swing low to $5.08 high.

There is also a major bullish trend line forming with support near $4.60 on the 4-hours chart of the EOS/USD pair. If there is a downside break below the trend line support, there could be a move towards the $4.40 support or the 55 simple moving average (4-hours).

On the upside, an initial resistance is near the $5.10 level. The next key resistance is near the $5.25 level, above which the price might rise towards the $5.50 level. Any more gains could lead the price towards the $6.00 level in the coming days.

EOS Price

Looking at the chart, EOS price is now trading above $4.50 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it breaks the $5.10 and $5.25 resistance levels in the near term.

Technical indicators

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

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

Major Support Levels – $4.75 and $4.60.

Major Resistance Levels – $5.10 and $5.25.

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