EOS Price Analysis: Risk of More Losses Below $0.95 Escalates

• EOS price started a fresh decline after it failed to clear $1.1350 against the US Dollar.
• The price is now trading below $1.050 and the 55 simple moving average (4 hours).
• There was a break below a key bullish trend line with support at $1.10 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
• The pair could continue to decline if it stays below the $1.00 and $1.020 resistance levels.

EOS price is struggling below $1.020 against the US Dollar, unlike Bitcoin. The price might attempt to recover if there is a clear move above $1.020.

EOS Price Analysis

In the past few days, EOS price saw a fresh decline from the $1.1350 resistance against the US Dollar. The price traded below the $1.110 and $1.050 levels to move into a bearish zone.

There was a break below a key bullish trend line with support at $1.10 on the 4-hour chart of the EOS/USD pair. The pair even declined below the 50% Fib retracement level of the upward move from the $0.880 swing low to the $1.1364 high.

EOS is now trading below $1.050 and the 55 simple moving average (4 hours). It is facing resistance near the $1.00 zone. The next resistance is near the $1.020 zone.

If there is a recovery wave, the price might struggle near the $1.020 zone. The next resistance is near $1.0750. A clear move above the $1.0750 level could start a steady increase toward the $1.1350 level. Any more gains might send the price toward the $1.20 level.

On the downside, immediate support is near $0.940 or the 76.4% Fib retracement level of the upward move from the $0.880 swing low to the $1.1364 high.

The next key support is near the $0.880 level. If there is a downside break below the $0.880 support, the price could test the $0.750 support in the near term.

Looking at the chart, EOS price is now trading below the $1.050 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $1.00 and $1.020 resistance levels.

Technical indicators

4 hours MACD – The MACD for EOS/USD is gaining pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI is now below the 50 level.

Major Support Levels – $0.940 and $0.880.

Major Resistance Levels – $1.020 and $1.0750.

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