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Analysis of the price of EOS 02/27/2019

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The EOS price began a sharp downward correction from the $ 4.40 high against the US dollar. However, EOS is still above the key supports and could recover against the USD, BTC and ETH.

Key points of conversation

  • The EOS price decreased below support levels of $ 4.00 and $ 3.80 recently against the US dollar (Kraken data source).
  • There is an important connection uptrend line formed with support at $ 3.35 on the 4 hour chart.
  • The price remains in the falls and could recover above $ 3.60 and $ 3.80.

EOS price analysis

After a solid upward movement, Bitcoin, XRP, EOS and other cryptocurrencies faced sellers against the US dollar. The price of the EOS dropped from $ 4.40 and broke the support levels of $ 4.00 and $ 3.80.

The above chart indicates that the EOS price moved to a bullish zone, with a close above the support of $ 3.20 and the simple moving average of 100 (4 hours). Recently, it rose above $ 4.20 and then corrected below the support of $ 3.80.

There was a break below a key connection bullish trend line with support at $ 3.80 on the 4 hour chart. The pair even broke the support of $ 3.50 and the Fibonacci retracement level of 50% of the recent wave from the minimum of $ 2.70 to the maximum of $ 4.40.

However, there are many downward supports close to the $ 3.20 and $ 3.25 levels. There is also an important connection bullish trend line formed with support at $ 3.35 on the same chart.

More importantly, the simple moving average of 100 (4 hours) is at $ 3.20 and the Fibonacci retracement level of 61.8% of the recent wave from $ 2.70 to $ 4.40. Therefore, the falls in the EOS price towards the support of $ 3.20 could find buyers.

On the positive side, an initial resistance is close to the $ 3.50 level, above which the EOS price could prove the $ 3.80 level. The main resistance for buyers is close to the $ 4.00 level, followed by $ 4.20. That said, there are some bearish signs visible in the lower time frame tables of Bitcoin, Ethereum, XRP, BNB, EOS and other cryptocurrencies, which can increase pressure on buyers in the short term.


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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .


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This post is also available in: esEspañol (Spanish)

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