EOS Price Analysis
• EOS price started a fresh increase from the $1.08 support against the US Dollar.
• There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
• The pair could continue to move up if it clears the $1.22 and $1.232 resistance levels.
Bulls Aim for $1.30 Again
EOS price is rising above $1.15 against the US Dollar, similar to bitcoin, as it found support near the $1.08 level recently and started a fresh increase. The price gained pace and climbed above various resistances such as $1.12 and $1.15 marks, while also breaking above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
The bulls are now aiming for more gains and they could push towards the next major resistance levels at around $1.22 and further to 1$0232 mark in order to resume its uptrend towards its previous highs of around 1$3036 swing high level seen before dropping down recently to 1$0731 low point mark .
Immediate Resistance Levels
On the upside, an immediate resistance is near the $1.22 level which is close to 61% Fib retracement level of last key drop from 1$3136 swing high to 1$0731 low . If this immediate resistance is surpassed then we might see some more gains coming in towards first major resistant level at around 1$0232 after which bulls will be shooting for their target of achieving back its previous highs around 1$3036 once again .
Support Levels
On downside , an immediate support lies nearby at around 1$0160 along with 55 simple moving average (4-hours) mark . Next key support lies below this point at around 1$0145 where if there would be downside break then we can expect further dropdown in prices towards its psychological important point at around 1$0100 or even lower than that .
Conclusion
Looking at overall picture , EOS prices are currently trading above its important supports such as 55 simple moving average (4-hours) whilst showing few positive signs above 1$0115 mark . In order for bulls to continue their uptrend again , they need to smash through its immediate resistances such as those lying nearby at 11$0220 & 11$0232 marks . If these two resistances are crossed successfully then we can expect further rise in prices till it reaches back its all time highs once again i:e 113036 swing high points during past week when it dropped down till 110731 low points .
