EOS Rate Rises 10% and Technicals Recommends Rally Above $4

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EOS Rate Rises 10% and Technicals Recommends Rally Above $4

EOS cost began a strong boost after it broke the $3.300 resistance zone versus the United States Dollar. A brand-new month-to-month high is formed near $3.871 and it looks like there are opportunities of more benefits.

  • EOS formed a strong assistance base above $3.000 and rallied over 10% in the previous couple of hours.
  • The cost settled well above the $3.500 pivot level and the 100 SMA (H4).
  • There was a break above an essential bearish pattern line with resistance near $3.200 on the 4-hours chart of the EOS/USD set (information feed from Kraken).
  • The set might continue to increase above the $3.900 and $4.000 resistance levels in the near term.

EOS Rate is Getting Momentum

This previous week, EOS cost formed a strong assistance near the $2.850 and $3.000 levels. It began a fresh boost above the $3.200 resistance level and moved into a favorable zone (comparable to bitcoin, ETH, and TRX).

There was likewise a break above an essential bearish pattern line with resistance near $3.200 on the 4-hours chart of the EOS/USD set. The set acquired rate above the $3.500 pivot level and the 100 basic moving typical (4-hours).

It unlocked for more gains and the cost traded to a brand-new month-to-month high near $3.871 It is presently combining gains near the $3.800 level. A preliminary assistance is near the $3.650 level. It is close to the 23.6% Fib retracement level of the current rally from the $2.877 low to $3.871 high.

EOS Price

 EOS cost trades above $3.600 Source: TradingView.com

The very first significant assistance on the disadvantage is near the $3.500 level (the current breakout zone). The next assistance is near the $3.350 level or the 50% Fib retracement level of the current rally from the $2.877 low to $3.871 high.

On the benefit, there is a short-term resistance near the $3.850 level. An effective close above the $3.850 level may unlock for a push towards $4.000 and even $4.200 in the near term.

Dips Likely to be Minimal

If EOS begins a drawback correction, it may discover quotes near the $3.500 level. The primary assistance is now near the $3.350 and $3.300 levels.

If there is a drawback break listed below the $3.300 assistance, the cost might extend its decrease towards the $3.000 assistance zone.

Technical indications:

4-hours MACD– The MACD is now getting rate in the bullish zone.

4-hours RSI (Relative Strength Index)– The RSI for EOS/USD is now in the overbought zone.

Significant Assistance Levels– $3.500, followed by $3.350

Significant Resistance Levels– $3.850, $3.900 and $4.000

Aayush Jindal Read More.