The EOS Market (EOS/USD) Prepares to Rally
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At the beginning of the year, the EOS market saw a significant bullish run that started from the $0.85 price level as its baseline and eventually peaked at the $1.3 price level in early March. The bullish run took a while to hit the targeted supply line because of the significant presence of bears in the market.
EOS Market Data
- EOS/USD Price Now: $0.887
- EOS/USD Market Cap: $969,520,844
- EOS/USD Circulating Supply: 1,093,340,148 EOS
- EOS/USD Total Supply: 1,093,333,375
- EOS/USD CoinMarketCap Ranking: #43
Key Levels
- Resistance: $0.9, $1.0, and $1.1
- Support: $0.8, $0.7, and $0.7.
Price Prediction for the EOS Market: The Indicators’ Point of View
On February 17, the EOS market broke out from the $1.03 price level to hit the key resistance level. This market movement triggered high market volatility, but the EOS bears became evenly matched with the bulls. This sent the market ranging within the price channel between the $1.30 price level and the $1.00 price level. The EOS bull market tested the key resistance on two more occasions before finally succumbing to bearish pressure. Currently, the market is illustrated by the Bollinger Bands indicator; now moving between the $0.9 price level and the $0.8 price level, the market is now seen as stabilizing. This should precede the price rally. According to the Fibonacci retracement indicator, at the current level, the market is very likely to rally as it appears to have completed a bearish cycle.
The EOS Market 4-Hour Chart Outlook:
From a 4-hour perspective, the market is beginning to show signs of a bullish recovery. The price action is now above the 20-day moving average. Also, from a 4-hour timeframe chart, we noticed that the volatility is considerably high, which increases the likelihood of a price rebound, even though the market will need to deal with the $0.9 resistance level.
