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EOS

EOS price analysis: EOS/USD bulls strengthen their grip

  • EOS has potential to trend towards $5.0 in the near if technical levels stay intact.
  • EOS is likely to consolidate above $4.0 in the short-term.

EOS is rising in value during the weekend European session. The upward correction is welcome following the recent dip to $3.30. The last couple of days have seen the buyers fight tooth and nail to come out of the bear range.

The initial jump above the 50 Simple Moving Average (SMA) 1-h resistance gave the price a kick in an engulfing candlestick. EOS/USD stepped above $4.00 but corrected under the moving averages before finding support at $3.8. At the time of writing, EOS has recovered past the 50 SMA resistance and is exchanging hands a $4.20.

Also Read: Bitcoin market update: BTC/USD bulls too timid to launch an assault on $11,000

The hourly chart shows EOS having the potential for further growth towards $5.0. The Moving Average Convergence Divergence (MACD) is trending upwards. The increasing divergence north is a signal for more buying positions. The 50 SMA having jumped above the longer-term 100 SMA is a key indicator for greater bullish influence and that EOS is likely to consolidate above $4.0.

However, the traders must be on the look for the Relative Strength Index which is currently ranging at 70. This could mean that the bulls are getting exhausted and in the near-term a correction back to the support at $4.0 and $3.8 is likely.

EOS/USD 1-h chart

source;.fxstreet

EOS

EOS Daily Tech Analysis – 17/02/20

EOS

EOS slid by 7.68% on Sunday. Following on from an 11.38% tumble on Saturday, EOS ended the day at $4.3850.

A bullish start to the day saw EOS rise to an early morning intraday high $4.8500 before hitting reverse.

Falling short of the first major resistance level at $5.2561, EOS slid to a late afternoon intraday low $4.0500.

EOS fell through the first major support level at $4.3749 before recovering to $4.38 levels late in the day.

At the time of writing, EOS was down by 4.66% to $4.1807. A bearish start to the day saw EOS fall from an early morning high $4.4002 to a low $4.1230.

EOS left the major support and resistance levels untested early on.

For the day ahead

EOS would need to move through to $4.43 levels to support a run at the first major resistance level at $4.8067.

Support from the broader market would be needed, however, for EOS to break out from the early morning high $4.4002.

Barring a broad-based crypto rebound, resistance at $4.50 levels would likely leave EOS short of the first major resistance level.

Failure to move through to $4.43 levels could see EOS struggle throughout the day.

A fall back through the morning low $4.1230 would bring the first major support level at $4.0067 into play.

Barring an extended crypto sell-off, however, EOS should steer of sub-$4.00 levels.

Looking at the Technical Indicators

Major Support Level: $4.0067

Major Resistance Level: $4.8067

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

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EOS

EOS Daily Tech Analysis – 15/02/20

EOS

EOS rose by 0.08% on Friday. Following on from a 0.42% gain on Thursday, EOS ended the day at $5.3600.

A choppy start to the day saw EOS rise to an early morning intraday high $5.4234 before hitting reverse.

Falling short of the first major resistance level at $5.5044, EOS slid to a mid-morning intraday low $5.2173.

Steering clear of the first major support level at $5.1883, EOS recovered to $5.38 levels before easing back to an afternoon low $5.2760.

Finding support late on recovered to $5.30 levels to close out the day in the green.

At the time of writing, EOS was down by 1.64% to $5.2723. A mixed start to the day saw EOS rise to an early morning high $5.3872 before sliding to a low $5.2265.

Falling short of the major resistance levels, EOS fell through the first major support level at $5.2437 early on.

For the day ahead

EOS would need to move back through to $5.33 levels to support a run at the first major resistance level at $5.4498.

Support from the broader market would be needed, however, for EOS to break out from Friday’s high $5.4234.

Barring a broad-based crypto rebound, the first major resistance level at $5.4498 and Friday’s high would likely limit the upside on the day.

Failure to move back through to $5.33 levels could see EOS fall deeper into the red.

A fall back through the first major support level at $5.2437 would bring sub-$5.20 levels into play.

Barring an extended crypto sell-off, however, EOS should continue to steer of the second major support level at $5.1275.

Looking at the Technical Indicators

Major Support Level: $5.2437

Major Resistance Level: $5.4498

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

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EOS

EOS Price Analysis: EOS/USD bulls and bears lock each other down as price settles around $5.30

  • The $5.37 resistance level seems to have stopped any upward movement.
  • The RSI indicator is trending around 83.33 inside the overbought zone.

EOS/USD daily chart

EOS/USD daily chart

Over the last three days, EOS/USD has been trending horizontally around the $5.30-mark as the bulls and bears have locked each other down. The $5.37 resistance line is holding the price down and will need to be overcome to enter the $5.50-zone. The MACD indicator shows decreasing bullish momentum, while the Elliott Oscillator has had a red session follow nine straight green sessions. The RSI indicator is trending around 83.33 inside the overbought zone, which shows that further price correction may be round the corner. The bulls will need to protect the $5.15 support line to prevent any further downward movement. 

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