EOS Price on the Rise: Bulls Aiming for $1.30 Again
• EOS price is rising above $1.15 against the US Dollar, similar to bitcoin.
• There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
• The first major resistance is near the $1.232 level, above which the price could rise steadily towards the $1.30 level.
EOS Price Analysis
EOS price started a fresh increase from the $1.08 support against the US Dollar. The price is now trading above $1.15 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move up if it clears the $1.22 and $1.232 resistance levels.
On the upside, an immediate resistance is near the $1.22 level, close to 61.8% Fib retracement level of last key drop from swing high to low point of EOS/USD pair. The first major resistance is near the $1.232 level, above which it could rise steadily towards its next target at around$ 1.30 mark or even higher reaching as far as$ 1 .32 mark if there are no interruptions in movement .
Downside Support Levels
On the downside, there are two main support levels at around$ 1 .16 and$ 1 .145 respectively where it may find some consolidation below them before further advancing in either direction . If there’s any downward break below these supports , then price may revisit its previous low of$ 1 .0731 or even lower reaching as far as$ 1 .02 mark or even lower depending on market conditions .
Technical indicators like MACD and RSI are currently showing bullish signs for EOS/USD suggesting that prices might continue its upward momentum in future unless any major changes occur in market sentiment or other factors influencing its pricing pattern ,
In conclusion , considering all factors discussed so far , we can say that EOS prices will likely to continue their uptrend if they manage to sustain themselves over important support levels discussed earlier and break through resistances mentioned later with ease without much volatility seen in markets during this period of time .