EOS Price Analysis – December 26
The daily chart reveals that if the EOS price stays above the moving averages, the price may rise towards the previous high of $3.5 level.
Resistance levels: $4.0, $4.2, $4.4
Support levels: $3.0, $2.8, $2.6
At the time of writing, EOS/USD is ranging as the price remains above the 9-day and 21-day moving averages after touching the daily low of $3.31. Meanwhile, the bullish momentum is propelling the coin above the resistance level of $3.4 as the bullish pressure could break up the $3.5 level. However, should the bulls fail to push the price upward, the EOS price may continue to consolidate within the market.
EOS Price Analysis: EOS Price May Break to the Upside
The EOS price is changing hands at $3.42 where it faces up slightly. However, if the coin continues the upward movement and break above the upper boundary of the channel, the coin may locate the potential resistance levels at $4.0, $4.2, and $4.4 while the support levels remain at $3.0, $2.8, and $2.6 respectively giving a low trading volume as the technical indicator Relative Strength Index (14) moves around 48-level, suggesting sideways movement for the market
EOS/BTC Market: EOS Price Keeps Moving Sideways
When compares with Bitcoin, the EOS price remains below the 9-day and 21-day moving averages with a bearish candle. Meanwhile, the technical indicator Relative Strength Index (14) is now moving towards 40-level as the signal line is pointing down. Meanwhile, any further movement below the 9-day and 21-day moving averages could hit the critical support level at 60 SAT and below.
On the contrary, the EOS market needs to experience bullish signals for an upward movement to come to play and once this happens, the market price may cross above the upper boundary of the channel which could hit the resistance level of 73 SAT and above. Meanwhile, the trading volume is currently fading out and may change the current movement if the technical indicator Relative Strength Index (14) crosses below 40-level.