• EOS price is rising above $1.18 against the US Dollar, with key resistance levels at $1.24 and $1.25.
• There is a key bullish trend line forming with support near $1.20 on the 4-hours chart of the EOS/USD pair.
• If there is a downside break below the $1.175 support, the price could revisit the $1.150 support or decline to $1.05.
EOS Price Analysis
EOS price started a fresh increase from the $1.12 support against the US Dollar and is now trading above $1.15 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $1.20 on the 4-hours chart of the EOS/USD pair, suggesting further upside potential in prices if it clears resistance at around $ 1.24 and 1..25 levels.
Resistance Levels
Immediate resistance for EOS lies near at around $ 1.24 level, which coincides with 50% Fib retracement level of recent downside move from high of 1..2533 to low of 1..1955.
Support Levels
On downside immediate support lies at around 1..200 level followed by key bullish trend line forming with support near 1..20 on 4-hour chart of EOS/USD pair . The next important support level lies at around 1..175.
Technical Indicators
4 hour MACD for EOS/USD is losing pace in bullish zone while RSI has reached 50 mark indicating no strong momentum either way.
Possible Price Movements
Overall, if EOS clears resistance levels mentioned then it can continue to move up towards first major resistance at around 1..30 followed by higher target at around 1..32 level while any downside break below crucial supports mentioned will lead to bearish reversal towards targets as low as 1..05 level
