EOS price started following bitcoin’s path and climbed sharply above $5.200 and $5.700 resistance levels. The bulls remain in control and they are likely to target further upsides above $6.200 and $6.400.

  • EOS price broke the main $5.200 resistance level to start a solid uptrend.
  • Recently, there was a break above a contracting triangle with resistance at $5.700 on the 2-hours chart.
  • The price rallied, traded as high as $6.195 and it is currently correcting gains.

EOS Price Analysis

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EOS Price Analysis and Prediction

This week, EOS price started a strong upward move after the bulls successfully cleared the main $5.200 and $5.250 resistance levels. It opened the doors for gains above the $5.450 and $5.650 pivot levels.

EOS Price Analysis and Prediction Chart

Click to Enlarge Chart

Looking at the 2-hours chart of EOS/USD, the pair settled well above the $5.650 level and the 25 simple moving average (2-hours). It tested the $5.800 level and recently formed a contracting triangle.

Finally, there was another leg higher and the price broke the contracting triangle resistance at $5.700. As a result, the price rallied above the $6.000 resistance level and traded to a new monthly high at $6.195.

Recently, the price corrected below the $6.000 level and the 23.6% Fib retracement level of the latest wave from the $5.394 low to $6.195 high.

However, the triangle resistance area near $5.700 acted as a strong support along with the 61.8% Fib retracement level of the latest wave from the $5.394 low to $6.195 high. The price is currently consolidating above $5.700 and it seems like it could start another increase.

If there is a break above the $6.000 resistance, the price is likely to clear the $6.200 resistance. The next key resistance for the bulls is close to $6.450.

Alternatively, if there is a downside extension below the $5.700 support, EOS price might find bids near the $5.580 level and the 25 simple moving average (2-hours). To reverse the recent gains, the price must break the $5.200 pivot level.

Overall, EOS is placed nicely in an uptrend and if bitcoin, Ethereum and ripple accelerates higher, EOS could break $6.000 and $6.200.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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