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- EOS price started a fresh decline from the $3.30 zone against the US Dollar.
- The price is now trading below $3.00 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $3.10 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
- The pair could extend losses if there is a clear break below the $2.75 support.
EOS price is showing bearish signs below $3.00 against the US Dollar, similar to bitcoin. The price could recover if there is a clear break above $3.00.
EOS Price Analysis
This past week, EOS price remained in a bearish zone below the $3.30 resistance zone against the US Dollar. The price traded below the $3.00 level and the 55 simple moving average (4-hours).
The pair is now trading below $3.00 and the 55 simple moving average (4-hours). The price even spiked below the $2.85 level. A low is formed near $2.78 and the price is now consolidating losses. An initial resistance on the upside is near the $2.90 level. It is near the 23.6% Fib retracement level of the downward move from the $3.28 swing high to $2.780 low.
The next key resistance is near the $3.00 level. It coincides with the 50% Fib retracement level of the downward move from the $3.28 swing high to $2.780 low.
Besides, there is a key bearish trend line forming with resistance near $3.10 on the 4-hours chart of the EOS/USD pair. A clear move above the $3.10 level is needed to gain bullish momentum in the near term. The next major resistance is near $3.30.
On the downside, the first major support is near the $2.82 level. The main support is now forming near the $2.75 zone, below which there is a risk of a sharp move towards the $2.50 support. Any more losses might call for a move towards the $2.20 level in the near term.
EOS Price
Looking at the chart, EOS price is now trading below $3.00 and the 55 simple moving average (4-hours). Overall, the price could extend losses if there is a clear break below the $2.75 support.
Technical indicators
4-hours MACD – The MACD for EOS/USD is gaining pace in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI is now below the 30 level.
Major Support Levels – $2.75 and $2.50.
Major Resistance Levels – $3.00 and $3.10.