EagleFX

EOS price found support near the $3.950 level and recently climbed higher. Conversely, there were mostly bearish moves in bitcoin, Ethereum, BCH and ripple in the past few sessions.

  • EOS price remained well bid near the $3.950 and $4.000 support levels.
  • The price is now attempting an upside break above a contracting triangle with resistance near $4.300 on the 2-hours chart.
  • The price is likely to accelerate higher if it breaks the $4.300 and $4.480 resistance levels.

EOS Price Analysis

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EOS Price Analysis and Prediction

In the past few sessions, there was a downside extension in bitcoin, Ethereum, ripple and BCH against the US Dollar. However, EOS price remained well supported near the $3.950 and $4.000 levels, and recently climbed more than 4%.

EOS Price Analysis and Prediction

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Looking at the 2-hours chart of EOS/USD, the pair traded as low as $3.936 and recently started an upward move. It broke the $4.000 resistance level and the 25 simple moving average (2-hours).

The price even traded above the 50% Fib retracement level of the last drop from the $4.477 high to $3.936 low. However, the price is now struggling to clear the $4.280 and $4.300 resistance levels.


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Moreover, EOS price is now attempting an upside break above a contracting triangle with resistance near $4.300 on the same chart. The 61.8% Fib retracement level of the last drop from the $4.477 high to $3.936 low is also near the $4.300 level.

If there is an upside break above the $4.300 resistance, the price could test the last swing high near $4.480. Any further upsides might start a solid upward move towards the $5.000 and $5.200 resistance levels in the near term.

An intermediate resistance could be near the $4.600 level plus the 1.236 Fib extension level of the last drop from the $4.477 high to $3.936 low.

On the other hand, if EOS price fails to surpass the $4.300 and $4.480 resistance levels, there could be a fresh decrease below $4.100. The main support is near the $3.900 level, below which the price could accelerate towards $3.600 or $3.500.

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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