• EOS price is struggling below the $0.80 level against the US Dollar, with a bearish trend line forming at $0.675 on the 4-hour chart.
• Immediate resistance is near the $0.675 level, while major resistance levels are at $0.75 and $0.80 respectively.
• If there is a downside break below the $0.600 support, EOS could test the $0.550 support in the near term.
EOS Price Analysis
EOS price is currently facing bearish pressure below the $0.80 level against the US Dollar, with a short-term bearish trend line forming at $0.675 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The immediate resistance for EOS lies at around $0.675, while major resistance levels are located at around $0.75 and 0$.80 respectively. In case of a downside break below the key support level of $0.600, then EOS could test its next key support near to $ 0 .550 in upcoming days ahead..
The first major resistance for EOS lies at around$ 0 .75 which is also 50% Fib retracement level of its downward move from swing high of$ 0 .9040 to low of$ 0 .6048.. If price manages to break above this key resistance zone then it may open doors for more bullish momentum up towards next major resistances located at around$ 0 .78 and after that$ 0 .85 respectively..
The immediate support for EOS lies near to$ 0 .620 followed by its strong key support area located near to$ 0 .600 mark.. However if bears take control over markets and push prices further down then their could be an extended drop till next critical supports located near to$ 0 .550 marks ..
MACD & RSI Indicators
Currently 4 hours MACD for EO/USD pair has turned bearish as it’s gaining pace in negative territory while 4 hours RSI indicator has dropped below 50 levels which indicates that bears have taken control over markets ..