• EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar.
• The pair could continue to decline if it stays below the $1.12 and $1.15 resistance levels.
• If there is a downside break below the $0.965 support, the price could test the $0.920 support in the near term.
EOS Price Analysis
EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar after failing to clear the 50% Fib retracement level of the downward move from the $1.340 swing high to $0.9627 low. There was a break below a key rising channel with support near $1.10 on 4-hours chart of EOS/USD pair, indicating further bearishness in prices near-term unless it breaks above critical resistances at $1.12 and 1.15 levels respectively..
An immediate support for EOS/USD is seen near $1 and 0.965 levels respectively with more significant ones at 092 and 085 levels if bears manage to breach them respectively..
On upside, an immediate resistance is seen near$11 level while more critical ones are located around 1120 and 115 levels respectively which need to be cleared for any meaningful recovery in prices going forward..
Looking at technical indicators, 4-hour MACD has been gaining bearish momentum while 4-hour RSI has slipped beneath 50 level pointing towards further bearishness in short-term unless buyers can take control again soon..
Overall, unless bulls take control back above 1120 and 115 resistance levels respectively, EOS price will remain under pressure with possibility of breaking down lower towards 0920 or 0850 supports as well where buyers may emerge again..