EOS Price Analysis
• EOS price started a fresh increase from the $1.08 support against the US Dollar.
• There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
• The price could resume its increase if it clears the $1.220 and $1.232 resistance levels.
Recent Movements in EOS Price
EOS price recently found support near the $1.08 against US Dollar and started a fresh increase from thereon. The price surged above the 50% Fib retracement level of the last key drop from the $1.3136 swing high to $1.0731 low, as well as broke past a key bearish trend line with resistance near $1.18 on 4-hourly chart of EOS/USD pair (data feed from Coinbase). This move has pushed EOS price towards immediate resistance at around $1.22, which is close to 61.8% Fib retracement level of last drop from swing high to swing low mentioned earlier, suggesting further upside potential for EOS if this barrier is cleared with strength in coming sessions ahead.
Upside Resistance Barriers
The first major resistance is seen at around $1.232 level above which bulls may take complete control over market sentiments leading to another rally up towards next major target at around $1.30 mark in upcoming days ahead, while any downside break below immediate support at around 55 simple moving average (4-hours) may open doors for further pullback towards next targets at around 1$145 and then 1$10 levels respectively, before bulls can gain momentum again in market sentiment once moresible levels mentioned here should be closely monitored by active traders in order to identify potential entry and exit points according to their own trading strategies accordingly
4-hourly MACD for EOS/USD is gaining pace in bullish zone along with RSI being slightly above 50 mark indicating that current uptrend might have some more momentum left before taking any corrective action back down again soon afterwards as long as prices remain sustainably above 55 simple moving average (4-hourly) mark currently providing good support for bullish run anytime soon again within coming sessions ahead .
In conclusion, we can see that overall price might continue its move up if it clears certain important resistances such as 1$22 and then 1$32 marks respectively in coming sessions ahead while any downside break below immediate supports such as 55 simple moving average (4-hourly) might lead towards further pullbacks before bulls will regain control over market sentiments anytime soon afterwards making it important for traders to closely monitor these levels while entering or exiting positions accordingly according to their own trading strategies currently available on market right now overall