EOS Reclaims the Declining Price as the Market Retraces $1.33
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
The $1.30 price level is a major resistance level from where the bull market fell short in late February. The five-day massive selling that started at around this key resistance level on February 21 was aborted at around $1.10. This price level is also becoming a key support level for the bull market as we see the price rallying at this point. The market is bouncing back at this level. Before this price rebound, the market had come above the $1.30 level, but exhaustion set in on the part of the bulls, and they could not hold ground above the level.
EOS/USD Price Statistics
- EOS/USD price now: $1.161
- EOS/USD market cap: $1,261,766,495
- EOS/USD circulating supply:1,084,829,961 EOS
- EOS/USD total supply:1,084,371,464
- EOS/USD coin market cap rank: #41
Key Levels
- Resistance: $1.35, $1.40, and $1.45
- Support: $1.00, $0.90, and $0.80
Price Prediction EOS: The Indicators’ Point of View—The Bullish Price Continues to Rally
The difference between the support level and the resistance level is large, but the market is not in a price consolidation trend. We have a higher high and a slightly higher low, so the uptrend is being sustained. The bull market is pulling through. However, the volatility is high as the price retracement usually seems strong over a few days, but the support level seems as strong as a rock. According to the Relative Strength Index (RSI), the price is back at equilibrium, and the next stop for the bull market may be slightly above the previous high (that is, the $1.33 level).
EOS/USD Market Price From the 4-Hour Chart
The bull market has come to major resistance at around the $1.17 level, and some traders are closing their long positions in the market at this level. However, the most likely expectation of the market is still to the upside, even though the current 4-hour session suggests indecision and deadlock. The selling pressure will soon wear out around this level, and the price rally will continue.
