EOS price started a steady rise along with bitcoin, and climbed above the $6.200 and $6.500 resistance levels. The price remains in a solid uptrend and it could extend gains towards $8.00.

  • EOS price broke the key $6.800 pivot level to enter a positive zone.
  • The bulls are currently attempting an upside break above $7.100 on the 2-hours chart.
  • The price is likely to climb further higher towards the $7.500 and $8.000 resistance levels.

EOS Price Analysis

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EOS Price Analysis & Prediction

The recent strength in bitcoin sparked bullish moves in EOS above the $6.00 support. The price gained bullish momentum above the $6.200 and $6.500 resistance levels to start a steady uptrend.

EOS Price Analysis and Prediction

Click to Enlarge Chart

Looking at the 2-hours chart of EOS/USD, the pair settled well above the $6.500 level and the 25 simple moving average (2-hours). It even surpassed the main $6.800 pivot level to set the stage for more upsides.

During the recent rise, the price surpassed a couple of bearish trend lines and finally broke the $7.000 resistance level. It even climbed above $7.200 and traded to a new monthly high at $7.224.

Recently, there was a downside correction below the $7.00 level, and the 23.6% Fib retracement level of the latest wave from the $6.367 low to $7.224 high.

However, losses were confined and the price found support near $6.900 plus the 25 simple moving average (2-hours). At the moment, EOS bulls are attempting an upside break above $7.100 and a contracting triangle on the same chart.

If there is a successful push above $7.100 and $7.150, the price is likely to surge above the $7.200 level. The next key resistance is near the $7.500 level, above which EOS is likely to climb higher towards the $8.000 barrier.

Alternatively, if there is a downside break below the $7.000 support and 25 simple moving average (2-hours), the price could retest the $6.800 support or the 50% Fib retracement level of the latest wave from the $6.367 low to $7.224 high.

Overall, EOS is showing a lot of positive signs, with chances of more upsides above the $7.200 and $7.400 levels.

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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