EOS price started a strong increase after it broke the $3.300 resistance zone against the US Dollar. A new monthly high is formed near $3.871 and it seems like there are chances of more upsides.
- EOS formed a strong support base above $3.000 and rallied over 10% in the past few hours.
- The price settled nicely above the $3.500 pivot level and the 100 SMA (H4).
- There was a break above a key bearish trend line with resistance near $3.200 on the 4-hours chart of the EOS/USD pair (data feed from Kraken).
- The pair could continue to rise above the $3.900 and $4.000 resistance levels in the near term.
EOS Price is Gaining Momentum
This past week, EOS price formed a strong support near the $2.850 and $3.000 levels. It started a fresh increase above the $3.200 resistance level and moved into a positive zone (similar to bitcoin, ETH, and TRX).
There was also a break above a key bearish trend line with resistance near $3.200 on the 4-hours chart of the EOS/USD pair. The pair gained pace above the $3.500 pivot level and the 100 simple moving average (4-hours).EOS price trades above $3.600. Source:The first major support on the downside is near the $3.500 level (the recent breakout zone). The next support is near the $3.350 level or the 50% Fib retracement level of the recent rally from the $2.877 low to $3.871 high.