EOS (EOS) Price Analysis: EOS Bulls Struggles To Cross $4 Mark

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • EOS is facing strong resistance at the level of $4.00 which is preventing the altcoin to build a significant bullish movement in the market
  • For the past few days. EOS is moving in between the price band of $3.50 to $4.00

Source: Coin360

On the 7-day weekly chart, EOS started at a price level of $4.10. However, price corrections bought down the price level to the support level of $3.40. Afterwards, EOS has been attempting to cross the crucial level of $4 again in the crypto market.

However, it has been looking like the crucial level is turned into a major resistance level for the altcoin. EOS is currently facing a slight price consolidation between the level of $3.50 to $4.00.

The current price of EOS is $3.65 with market capitalization of $3,358,972,060 and 24h volume traded of $4,930,431,073.

Source: Tradingview

EOS Technical Analysis

The technical graph reflects on the bullish momentum build by the altcoin from the starting of February which resulted in it reaching its year-high of $5.50 and critical resistance area at the same time. After reaching the area, price corrections were there for the cryptoasset which brought the price level back to the support of $3.40.

The technical indicators and oscillators favour the bulls somehow. CCI had a negative divergence from the overbought region which is a positive sign for bullish growth. MACD levels are also close to bullish zone indicating that the altcoin can build positive momentum anytime soon. However, RSI is on the neutral level of 50.

FIB retracement levels are also showing signs of recovery as the altcoin is rising from the level of 0.236 to 0.382.

Resistance level: $3.90 and $4.00

Support level: $3.40 and $3.00

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