EOS Price Analysis – February 27
The recent market drop was pretty terrifying. Some coins, including Bitcoin (BTC), is yet to recover out of it. However, EOS may be showing a remarkable improvement.
Resistance levels: $4.7, $4.9, $5.1
Support levels: $2.6, $2.4, $2.2
EOS had a terrific week. There were days when the coin was falling but now we have seen the coin recovering. Last week, EOS/USD made some traders experienced the adventure of trading in the crypto market when the coin was seen trading upwards and moving above the 9-day moving average.
Currently, the coin is changing hands at $3.59 where it faces an upward movement as the RSI (14) is moving to cross above the 40-level. More so, if the price of EOS could rise again and break above the 9-day MA at $4.0 level, the coin may continue its upward movement to retest the previous high of $4.5.
Meanwhile, the nearest resistance levels to reach are $4.7, $4.9 and $5.1 while the support levels to watch are $2.6, $2.4 and $2.2 respectively.
Comparing with Bitcoin, the price is moving below the 9-day and 21-day moving averages but with a bullish candle trying to recover from the sell-off that occurred a few days back. The RSI indicator also moves to cross the 40-level which could aid the bullish movement of the coin. A possible drop may surface if the bulls fail to push the price towards the north and the support levels to watch are 350 SAT and 300 SAT.
Nevertheless, any form of a rebound from the above-mentioned supports could push the EOS price to 465 SAT resistance level and above. In other words, breaking below the mentioned support may drag the price to a new low of the month and send EOS in a bearish zone.
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