EOS Price Surges 10% and Technicals Suggests Rally Above $4

EOS value began a robust improve after it broke the $three.300 resistance zone towards the US Greenback. A brand new month-to-month excessive is shaped close to $three.871 and it looks like there are probabilities of extra upsides.

  • EOS shaped a robust assist base above $three.000 and rallied over 10% up to now few hours.
  • The value settled properly above the $three.500 pivot degree and the 100 SMA (H4).
  • There was a break above a key bearish development line with resistance close to $three.200 on the Four-hours chart of the EOS/USD pair (knowledge feed from Kraken).
  • The pair might proceed to rise above the $three.900 and $Four.000 resistance ranges within the close to time period.

EOS Price is Gaining Momentum

This previous week, EOS value shaped a robust assist close to the $2.850 and $three.000 ranges. It began a recent improve above the $three.200 resistance degree and moved right into a constructive zone (much like bitcoin, ETH, and TRX).

There was additionally a break above a key bearish development line with resistance close to $three.200 on the Four-hours chart of the EOS/USD pair. The pair gained tempo above the $three.500 pivot degree and the 100 easy shifting common (Four-hours).

It opened the doorways for extra positive factors and the value traded to a brand new month-to-month excessive close to $three.871. It’s at present consolidating positive factors close to the $three.800 degree. An preliminary assist is close to the $three.650 degree. It’s near the 23.6% Fib retracement degree of the latest rally from the $2.877 low to $three.871 excessive.

EOS value trades above $three.600. Supply: TradingView.com

The primary main assist on the draw back is close to the $three.500 degree (the latest breakout zone). The subsequent assist is close to the $three.350 degree or the 50% Fib retracement degree of the latest rally from the $2.877 low to $three.871 excessive.

On the upside, there’s a short-term resistance close to the $three.850 degree. A profitable shut above the $three.850 degree may open the doorways for a push in the direction of $Four.000 and even $Four.200 within the close to time period.

Dips More likely to be Restricted

If EOS begins a draw back correction, it’d discover bids close to the $three.500 degree. The principle assist is now close to the $three.350 and $three.300 ranges.

If there’s a draw back break under the $three.300 assist, the value might lengthen its decline in the direction of the $three.000 assist zone.

Technical indicators:

Four-hours MACD – The MACD is now gaining tempo within the bullish zone.

Four-hours RSI (Relative Power Index) – The RSI for EOS/USD is now within the overbought zone.

Main Assist Ranges – $three.500, adopted by $three.350.

Main Resistance Ranges – $three.850, $three.900 and $Four.000.

About Tom Greenly

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