EOS Price Analysis – February 4
The price of EOS/USD has been moving consistently within the channel and the market has since continued to rise higher.
Resistance levels: $4.6, $4.8, $5.0
Support levels: $3.8, $3.6, $3.4
The price of EOS has been moving towards an upward formation after having a bullish session of a few days ago. In the last three days, the EOS/USD has increased from $4.14 to $4.24. The price is above the moving averages. The signal line of the technical indicator RSI (14) is preparing to move into the overbought zone, indicating upward momentum.
In addition, if the EOS/USD tried to maintain its bullish trend, the bulls would reach the resistance level of $4.6, $4.8 and $5.0. But the price of the EOS should show a fluctuating movement along with the daily chart, which could return it to support level at $3.8, $3.6 and $3.4 respectively. Long-term buyers should not be bothered by the small impact on the road, as the future of EOS is assured.
Against Bitcoin, the price is moving above the 21 and 50 periods of EMA but with more bullish candles. The RSI (14) is making an attempt to move into the overbought which may soon increase the bullish movement of the coin. A possible drop may surface once the technical indicator turns and faces downward, and it may likely hit the support levels at 426 SAT and 416 SAT respectively.
Meanwhile, any further movement by the bulls could push the EOS price to 488 SAT resistance level and above. But come to think of it, breaking the mentioned-resistance level could push the price of the coin to a new high and the market may remain in the bullish zone.
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