EOS Price Soars: Bulls Eye $1.30 Target as Bulls Take Charge
•EOS price has started a fresh increase from the $1.08 support against the US Dollar.
•The price is now trading above $1.15 and 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.
EOS Price Analysis
EOS price started a fresh increase from the $1.08 support against the US Dollar, trading above $1.15 and breaking through 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 pair could continue to move up if it clears the $1.22 and $1.232 resistance levels, potentially rising towards the $1.30 level or higher in coming days.
Immediate Resistance Levels
An immediate resistance for EOS price is near the $1.22 level which is close to 61% Fib retracement level of last key drop from swing high ($1,3136) to low ($ 1,0731). The first major resistance is near at around $$1232 which will likely cause further increase in price should it be cleared successfully by bulls in coming days .
On downside an immediate support is seen around at $$1160 and 55 simple moving average (4-hours). Below that next key support is at around $$1145 which will likely prevent any further dips should bulls not manage to clear resistances mentioned before .
MACD & RSI Indicators
MACD for EOS/USD is gaining pace in bullish zone while RSI is currently above 50 level indicating further bullish movement in coming days .
Overall, EOS price has potential to continue its upwards movement if it manages to clear resistances at $$1220 & $$1232 respectively as per current market conditions, however any unexpected dip below $$1145 may trigger more sell offs thus dragging prices lower in short term .