EOS price formed a support base above $3.60 and rallied above the $3.75 and $4.00 resistance levels. The recent rally is far from over and EOS may rise further versus USD, ETH and BTC.
- EOS price is up more than 10% and it broke the $4.00 resistance area.
- There was a break above a crucial contracting triangle with resistance at $3.70 on the 2-hours chart.
- The price is currently testing the $4.15-4.20 resistance area, with a bullish angle.
Read: Trade EOS with Cryptohopper
EOS Price Analysis and Prediction
The past few sessions were excellent, with swing moves in bitcoin, Ethereum, ripple, cardano, bitcoin cash, EOS and other cryptocurrencies. ADA and EOS performed really well and climbed up by more than 10%.
Click to Enlarge Chart
Looking at the 2-hours chart of EOS/USD, the pair formed a strong support area near the $3.60 level and later started a solid rally. To initiate the recent rally, the price climbed above the $3.70 resistance and the 25 simple moving average (2-hours).
Besides, there was a break above a crucial contracting triangle with resistance at $3.70 on the same chart. The price rallied above the $3.80 and $3.90 resistance levels.
The rally was such that the price even cleared the $3.92 swing high and the 1.236 Fib extension level of the last decline from the $3.93 high to $3.59 low. It opened the doors for more gains and the price climbed above the $4.00 resistance area.
It tested the $4.15 resistance area and the 1.618 Fib extension level of the last decline from the $3.93 high to $3.59 low. At the moment, the price is consolidating near the $4.15-4.20 resistance area, with a bullish angle.
If there is a break above the $4.15-4.20 resistance area, EOS price is likely to accelerate above the $4.25 resistance as well. On the other hand, if there is a downside correction, the price is likely to find support near the $4.05 and $4.00 levels. The main support is near the $3.92 level (the previous swing high and resistance area).
The market data is provided by TradingView, Bitfinex.
The post EOS Price Prediction: Rally Above $4 Far From Over appeared first on Blockonomi.