• EOS price is trading below $0.80 against the US Dollar, unlike Bitcoin.
• There was a break above a key bearish trend line with resistance near $0.660 on the 4-hour chart of the EOS/USD pair.
• The price could continue to rise toward the $0.75 and $0.78 resistance levels in the near term.
EOS Price Analysis
EOS price is currently trading in a bearish zone below the $0.80 support against the US Dollar. There was a break above a key bearish trend line with resistance near $0.660 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to rise toward the $0.75 and $0.78 resistance levels in the near term.
Bulls Sight Recovery To $0.78
In recent sessions, EOS price range moves have been seen below the $0.65 resistance against the US Dollar, however it remained stable above certain levels such as $ 0590 and$ 0600 support levels respectively . A low was formed near$ 5987 and now there is an attempt for an upside correction . It broke through certain resistances like$ 0630 and$ 0650 respectively , also there was a break above 23 6% Fib retracement level of downward move from swing high at$ 9040 to low at$ 5987 . Additionally , there was also a break above a key bearish trend line with resistance near$ 0660 on 4 hour chart of EOS USD pair . Now it’s trading slightly above$ 0660 and 55 simple moving average (4 hours) .
Immediate Resistance Levels
On higher side immediate resistance is close to$ 0750 level or 50% Fib retracement level of downward move from swing high at$ 9040 to low at 5987$. Next major resistance is close to$ 0780 level , if it breaks this barrier then chances of testing next hurdle at 8 00 dollar will increase considerably .
Immediate Support Levels
On lower side immediate support can be observed around 6750 dollars , below this next support will be around 640 dollars level . If we take out 6400 dollars then chances are that price will test 6000 dollar mark in short time frame .
