EOS value started off a potent boost immediately after it broke the $3.300 resistance zone against the US Greenback. A new monthly substantial is formed around $3.871 and it appears like there are likelihood of extra upsides.
- EOS formed a strong assistance foundation higher than $3.000 and rallied in excess of 10% in the previous several several hours.
- The price tag settled properly earlier mentioned the $3.500 pivot stage and the 100 SMA (H4).
- There was a crack above a essential bearish trend line with resistance in close proximity to $3.200 on the 4-hours chart of the EOS/USD pair (data feed from Kraken).
- The pair could continue to rise above the $3.900 and $4.000 resistance levels in the near expression.
EOS Cost is Getting Momentum
This earlier week, EOS price tag formed a strong guidance in close proximity to the $2.850 and $3.000 levels. It started out a new raise over the $3.200 resistance amount and moved into a optimistic zone (similar to bitcoin, ETH, and TRX).
There was also a split over a important bearish trend line with resistance around $3.200 on the 4-several hours chart of the EOS/USD pair. The pair obtained tempo higher than the $3.500 pivot stage and the 100 straightforward moving regular (4-hours).
It opened the doors for more gains and the price traded to a new month to month significant near $3.871. It is at present consolidating gains close to the $3.800 amount. An preliminary guidance is near the $3.650 degree. It is close to the 23.6% Fib retracement level of the new rally from the $2.877 low to $3.871 substantial.
EOS price trades over $3.600. Resource: TradingView.com
The 1st significant assistance on the downside is near the $3.500 stage (the modern breakout zone). The subsequent assistance is in close proximity to the $3.350 degree or the 50% Fib retracement degree of the new rally from the $2.877 very low to $3.871 high.
On the upside, there is a shorter-phrase resistance around the $3.850 amount. A prosperous close higher than the $3.850 amount may well open the doorways for a press toward $4.000 or even $4.200 in the in the vicinity of time period.
Dips Probably to be Constrained
If EOS starts a draw back correction, it may possibly discover bids close to the $3.500 level. The principal assist is now in the vicinity of the $3.350 and $3.300 concentrations.
If there is a downside crack underneath the $3.300 assistance, the selling price could increase its drop in direction of the $3.000 guidance zone.
Technical indicators:
4-hrs MACD – The MACD is now getting tempo in the bullish zone.
4-hrs RSI (Relative Power Index) – The RSI for EOS/USD is now in the overbought zone.
Important Support Ranges – $3.500, adopted by $3.350.
Key Resistance Concentrations – $3.850, $3.900 and $4.000.
