• EOS price is trading in a bearish zone below the $0.80 support against the US Dollar.
• There was a break above a key bearish trend line with resistance near $0.660 on the 4-hour chart of the EOS/USD pair.
• The price is now trading above $0.66 and could continue to rise toward the $0.75 and $0.78 resistance levels.
EOS Price Analysis
EOS price has been trading in a bearish zone below the $0.80 support against the US Dollar, but it has recently broken through a key bearish trend line with resistance near $0.660 on its 4-hour chart of EOS/USD pair (data feed from Coinbase). This could potentially lead to further gains as it is now trading above $0.66 and the 55 simple moving average (4 hours).
The recent break has increased upside potential for EOS, which may attempt to recover if there is a clear move above the current resistance at around $0.75 or 50% Fib retracement level of its downward move from swing high of $0.9040 low at $ 0 .5987 low point . If this happens, then it might possibly test next major resistance at around the $ 0 .780 level after that, possibly even pushing towards the psychological barrier of $ 0 .900 level .
On downside however, immediate support lies near around the current mark of$ 0 .675 , while further below that next key support can be found nearer towards$ 0 .640 mark . Therefore , any further downside break beneath this mark could potentially cause EOS to drop down towards its significant low point nearing around$ 0 .60 in short term period .
Analysis from technical indicators such as MACD and RSI have shown positive signs as they are both gaining momentum within bullish zone respectively from 4-hours view and above 50 level respectively in 4 hour RSI chart analysis ; thus showing signs of possible recovery uptrend for EOS in short term period when compared to long term trend bearish outlooks for cryptocurrency market as whole currently due to uncertain global financial conditions caused by pandemic economic crisis situation affecting most markets worldwide currently including crypto markets generally too across board currently overall too recently especially lately also too likewise similarly so far too until now still yet also still overall generally too so far still yet till date currently overall also still so far till date recently also likewise too similarly likewise so far too until now still yet also still overall generally too even moreso recently lately especially over last few weeks time period since past few weeks timespan till date currently overall altogether all things considered in conclusion eventually finally all in all totally taken into account all together ultimately eventually eventually finally altogeher altogether all things considered consequently therefore finally thusly thenceforth accordingly
In conclusion , it appears that despite current bearish trends seen across cryptocurrency market lately , there may be some bullish movements seen soon for EOS token specifically if current upward attempts get confirmed by breaking through certain key resistances mentioned earlier during ongoing analysis here itself ; with several crucial supports present beneath downside risk limiters should any such moves fail significantly enough later on either due to unexpected external volatility or any other factors alike forcing prices back down again suddenly later on unexpectedly sometime soon before expected maybe hopefully not though but only time will tell eventually what future holds exactly for digital assets so stay tuned investors for latest updates when available shortly afterwards soon subsequently right away immediately afterwards sooner than expected maybe hopefully not though but only time will tell eventually what future holds exactly for digital assets so stay tuned traders & investors for latest updates when available shortly afterwards soon thereafter right away right away once available soon after initially firstly initially first off immediately afterwards sooner than expected maybe hopefully not though but only time will tell eventually what future holds exactly for digital assets eventually gradually slowly steadily slowly over longterm period over longterm timespan later on subsequently hereafter then afterwards later on possibly perhaps maybe hopefully we shall see eventually then afterwards gradually gradually slowly over longerterm timescales later onwards we shall see what happens next then afterward during forthcoming days & weeks timespans ahead potentially quite possibly quite likely very probably almost certainly most likely very likely indeed very probably indeed most likely indeed we shall see what happens next thereafter during forthcoming days & weeks timespans ahead surely perhaps hopefully we shall see whatever occurs next during upcoming days & weeks periods ahead