EOS price trimmed most its gains and declined below the $2.40 support against the US Dollar. It seems like EOS is now preparing for the next key break versus the USD and BTC.
Key Talking Points
- EOS price is currently trading above the $2.20 and $2.15 support levels (Data feed of Kraken) against the US Dollar.
- There is a crucial bearish trend line in place with resistance at $2.30 on the 4-hours chart.
- The price could either rally above the $2.30-2.40 resistance or decline below $2.15.
EOS Price Analysis
Recently, there was a decent upward move above the $2.30 and $2.40 levels in EOS price against the US Dollar. However, the price failed to break the $2.50 resistance and later started a downside move.
The chart above indicates that EOS price topped near the $2.48 level and later moved below the $2.40 support level. There was a proper close below the $2.30 level and the 100 simple moving average (4-hours).
The price tested the $2.15 support and later corrected above the $2.20…
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