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EOS Price Analysis: Bulls Aim for Recovery to $0.78

• EOS price is trading in a bearish zone below the $0.80 support against the US Dollar.
• There was a break above a key bearish trend line with resistance near $0.660 on the 4-hour chart of the EOS/USD pair.
• The pair could continue to rise toward the $0.75 and $0.78 resistance levels.

EOS Price Analysis

EOS price is struggling below $0.80 against the US Dollar, unlike Bitcoin . The price might attempt to recover if there is a clear move above $0.75. In the past few sessions, EOS price range moves below the $0.65 resistance against the US Dollar and remained stable above the $0.590 and $0.600 support levels, forming a low at around $0.5987 before attempting an upside correction which saw it break above both 23% Fib retracement level of downward move from swing high at around 09040 and bearish trend line with resistance near 06600 on 4 hour chart of EOS/USD pair respectively .

Upside Potential

On the upside, immediate resistance is near the $0.75 level or 50% Fib retracement level of downward move from swing high at around 09040 while next major resistance lies at 07800 after which price might test 0800 mark . Other indicators such as 4 hours MACD and RSI are also showing signs of possible recovery .

Downside Risk

On downside , immediate support lies at 0675 followed by another key support at 06400 where further breakdown will likely see price testing 06000 mark in near term .

Technical Indicators

4 hours MACD – The MACD for EOS/USD is gaining pace in bullish zone .4 hours RSI (Relative Strength Index) – The RSI is now above 50 level .Major Support Levels – 06750 and 0640Major Resistance Levels – 0750 and 0780


Overall ,EOS price has potential to continue rising towards 0750 and 0780 marks in short term but more downside cannot be ruled out if it fails to stay above 0675 support level .