EOS Price Analysis: Signs of Recovery Toward $1.0

EOS price is struggling below $1.00 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $0.935.

EOS Price Analysis

In the past few days, EOS price range moves below the $0.95 resistance against the US Dollar. The price remained stable above the $0.835 and $0.84 support levels.

A low is formed near $0.8362 and the price is now attempting an upside correction. There was a move above the $0.865 and $0.88 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $0.87 on the 4-hour chart of the EOS/USD pair.

The price is now trading above $0.88 and the 55 simple moving average (4 hours). On the upside, immediate resistance is near the $0.935 level or the 50% Fib retracement level of the downward move from the $1.034 swing high to the $0.8362 low.

The next major resistance is near the $0.962 level or the 61.8% Fib retracement level of the downward move from the $1.034 swing high to the $0.8362 low, above which the price might test the $0.98 level. Any more gains might send the price toward the $1.00 level.

On the downside, immediate support is near the $0.88 level or the 55 simple moving average (4 hours). The next key support is near the $0.85 level. If there is a downside break below the $0.850 support, the price could test the $0.82 support in the near term.

EOS Price

Looking at the chart, EOS price is now trading above the $0.88 level and the 55 simple moving average (4 hours). Overall, the price could start a recovery wave if it clears the $0.935 and $0.962 resistance levels.

Technical indicators

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

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

Major Support Levels – $0.88 and $0.85.

Major Resistance Levels – $0.935 and $0.962.

Source