• EOS price is rising above $1.18 against the US Dollar, and there is a key bullish trend line forming with support near $1.20 on the 4-hours chart of the EOS/USD pair.
• The immediate resistance is near the $1.224 level, while the first major resistance is close to the $1.240 level or the 76.4% Fib retracement level of the downward move from the $1.2533 swing high to the $1.1955 low.
• If there is a downside break below the $1.175 support, EOS price could decline toward $1.05 in the near term.
EOS Price Analysis
EOS price has started a fresh increase from the $1.12 support against the US Dollar and currently trading above $1.15 and 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $1.20 on 4-hours chart of EOS/USD pair that could further push up its value if it clears both immediate and major resistances at levels of 1.$24 and 1.$25 respectively as technical indicators suggest upside break to 1.$3 in long term horizon.
The immediate resistance for EOS price lies at around$ 1.$24 which is also 50% Fib retracement level of downward move from swing high of 1.$2533 to low of 1.$1955.
First Major Resistance
The first major resistance for EOS price lies at around$ 1.$24 or 76%.4 Fib retracement level of downward move from swing high of 1.$2533 to low of 1.$1955.
In case downside break occurs below support level at$ 1.$175, there are chances that EOS prices could decline towards$ 1.$05 in short term period.
Overall, if EOS price clears both immediate and major resistances at levels of$ 1240and$ 1250 respectively then it could rise steadily towards$ 13 in long term horizon as per technical indicators suggested upside break to 13$.