EOS Price Analysis: Risk of More Losses Below $0.95

EOS price is struggling below $1.00 against the US Dollar, similar to bitcoin. The price might attempt to recover if there is a clear move above $0.98.

EOS Price Analysis

In the past few days, EOS price saw a fresh drop from the $1.10 zone against the US Dollar. The price traded below the $1.05 and $1.02 levels to enter a bearish zone.

There was a break below a key bullish trend line with support near $1.04 the 4-hours chart of the EOS/USD pair. The pair accelerated lower below the $0.98 support zone and settled well below the 55 simple moving average (4-hours).

The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.8703 swing low to $1.094 high. On the downside, an immediate support is near the $0.950.

The 61.8% Fib retracement level of the upward move from the $0.8703 swing low to $1.094 high is also near the $0.95 zone. The next key support is near the $0.935 level.

If there is a downside break below the $0.935 support, the price could test the $0.88 support in the near term. On the upside, an immediate resistance is near the $0.98 level. The first major resistance is near the $1.00 level, above which the price might test the $1.080 level.

A clear move above the $1.08 level could start a steady increase towards the $1.15 level. Any more gains might send the price towards the $1.20 level.

EOS Price

Looking at the chart, EOS price is now trading below the $0.98 level and the 55 simple moving average (4-hours). Overall, the price could continue to decline if it stays below the $0.98 and $1.00 resistance levels.

Technical indicators

4-hours MACD – The MACD for EOS/USD is gaining pace in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is now below the 50 level.

Major Support Levels – $0.95 and $0.935.

Major Resistance Levels – $0.980 and $1.00.

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