EOS value began a powerful enhance after it broke the $3.300 resistance zone towards the US Dollar. A brand new month-to-month excessive is fashioned close to $3.871 and it looks like there are possibilities of extra upsides.
- EOS fashioned a powerful assist base above $3.000 and rallied over 10% prior to now few hours.
- The value settled properly above the $3.500 pivot stage and the 100 SMA (H4).
- There was a break above a key bearish development line with resistance close to $3.200 on the 4-hours chart of the EOS/USD pair (knowledge feed from Kraken).
- The pair might proceed to rise above the $3.900 and $4.000 resistance ranges within the close to time period.
EOS Price is Gaining Momentum
This previous week, EOS value fashioned a powerful assist close to the $2.850 and $3.000 ranges. It began a contemporary enhance above the $3.200 resistance stage and moved right into a constructive zone (just like bitcoin, ETH, and TRX).
There was additionally a break above a key bearish development line with resistance close to $3.200 on the 4-hours chart of the EOS/USD pair. The pair gained tempo above the $3.500 pivot stage and the 100 easy shifting common (4-hours).
It opened the doorways for extra beneficial properties and the value traded to a brand new month-to-month excessive close to $3.871. It is presently consolidating beneficial properties close to the $3.800 stage. An preliminary assist is close to the $3.650 stage. It is near the 23.6% Fib retracement stage of the latest rally from the $2.877 low to $3.871 excessive.
EOS value trades above $3.600. Source: TradingView.com
The first main assist on the draw back is close to the $3.500 stage (the latest breakout zone). The subsequent assist is close to the $3.350 stage or the 50% Fib retracement stage of the latest rally from the $2.877 low to $3.871 excessive.
On the upside, there’s a short-term resistance close to the $3.850 stage. A profitable shut above the $3.850 stage may open the doorways for a push in direction of $4.000 and even $4.200 within the close to time period.
Dips Likely to be Limited
If EOS begins a draw back correction, it would discover bids close to the $3.500 stage. The foremost assist is now close to the $3.350 and $3.300 ranges.
If there’s a draw back break beneath the $3.300 assist, the value might prolong its decline in direction of the $3.000 assist zone.
4-hours MACD – The MACD is now gaining tempo within the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for EOS/USD is now within the overbought zone.
Major Support Levels – $3.500, adopted by $3.350.
Major Resistance Levels – $3.850, $3.900 and $4.000.