• EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar.
• The bears were active near the $1.15 resistance and failed to clear the 50% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low.
• The price could continue to decline if it stays below the $1.12 and $1.15 resistance levels, while any more gains might send it towards the $1.30 level.
EOS Price Analysis
EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar, as there was a break below a key rising channel with support near $1.10 on the 4-hours chart of EOS/USD pair (data feed from Coinbase). The bears were active near the $1.15 resistance and failed to clear the 50% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low – indicating that further upsides could be limited above this level in coming sessions, although an immediate support is near at around$1.00 mark, with next major support lying at around 0$.965 level..
An immediate resistance can be seen at around$ 1.12 level and then at$ 1.15 mark being tested by sellers lately – if there is a clear move above these resistances, then prices may attempt recovery towards 1 .20 and 1 .25 levels respectively..
On downside, an immediate support is lying close to$ 1 .00 mark followed by crucial support around 0$.965 region which needs to hold for further rebound in prices..
The MACD for EOS/USD is gaining pace in bearish zone meanwhile RSI has dropped below 50 levels signifying bearish momentum in market..
Overall, EOS price could continue its decline if it fails to stay above crucial resistances such as$ 1 .12 and$ 1 .15 while any positive move above these levels might propel prices up towards next major hurdle placed at$ 1 .30 mark..