EOS Price Analysis: Fresh Increase Toward $0.95 May Be Ahead
•EOS price is trading in a bearish zone below the $0.90 support against the US Dollar.
•There is a key bullish trend line forming with support near $0.8760 on the 4-hour chart of the EOS/USD pair.
•The price could start a fresh increase if it clears the $0.90 and $0.9250 resistance levels.
EOS Price Analysis
EOS price is currently struggling below $0.90 against the US Dollar, however it may attempt to recover if there is a clear move above this level. There is a key bullish trend line forming with support near $0.8760 on the 4-hour chart of the EOS/USD pair, which could provide additional support for the price to rise higher towards its next resistances at $0.90 and $0.925 respectively.
Immediate support for EOS lies at around $0.876, which coincides with its key trend line on the 4-hour chart of the EOS/USD pair, followed by another strong support level at around $ 0 .85 below that .
On the upside, immediate resistance is near at around $ 0 .90 , or 76 .4 % Fib retracement level of its downward move from swing high to low . The next major resistance in sight lies at around $ 0 .925 , above which will open up further gains towards its next target of reaching past its psychological barrier of one dollar ($ 1 ) per coin .
Looking at technical indicators on 4 hour time frames, MACD suggests that bearish momentum is fading while RSI has risen above 50 indicating positive sentiment amongst traders and investors alike regarding EOS’s future potential for growth..
Overall, current market conditions indicate that if bulls can push prices past immediate resistances placed at$ 0 .90 and$ 0 .925 , then we can expect further gains to be made towards their current target of one dollar ($ 1 ) per coin..