EOS Price Analysis: Rally Could Resume Above $1.12

EOS price is rising above $1.00 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.12 and $1.15 resistance levels.

EOS Price Analysis

This week, EOS price started a fresh increase from the $0.95 zone against the US Dollar. The price gained pace and was able to clear the $1.00 resistance zone.

The price broke the $1.05 resistance zone and the 55 simple moving average (4-hours). The bulls even pushed the price above the $1.10 level. However, the bears appeared near the $1.12 zone. A high is formed near $1.122 and the price is now consolidating gains.

On the upside, an immediate resistance is near the $1.11 level. The first major resistance is near the $1.12 level, above which the price could rise steadily.

In the stated case, it could rise towards the $1.15 level. Any more gains might send the price towards the $1.20 level. On the downside, an immediate support is near the $1.09. It is near the 23.6% Fib retracement level of the upward move from the $1.01 swing low to $1.122 high.

The next key support is near the $1.065. There is also a key bullish trend line forming with support near $1.065 on the 4-hours chart of the EOS/USD pair.

The trend line is near the 50% Fib retracement level of the upward move from the $1.01 swing low to $1.122 high. If there is a downside break below the $1.065 support, the price could revisit the $1.02 support.

EOS Price

Looking at the chart, EOS price is now trading above the $1.00 level and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it clears the $1.12 and $1.15 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 – $1.065 and $1.020.

Major Resistance Levels – $1.12 and $1.20.

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