• EOS price started a fresh decline from the $0.80 zone against the US Dollar.
• The price is now trading below $0.765 and the 55 simple moving average (4 hours).
• There was a break below a key bullish trend line with support near $0.767 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase).
• The pair could continue to decline if it stays below the $0.760 and $0.780 resistance levels.

EOS price is struggling below $0.760 against the US Dollar, like Bitcoin. The price might attempt to recover if there is a clear move above $0.760.

EOS Price Analysis

In the past few days, EOS price saw a fresh decline from the $0.80 resistance against the US Dollar. The price traded below the $0.765 and $0.750 levels to move into a bearish zone.

Besides, there was a break below a key bullish trend line with support near $0.767 on the 4-hour chart of the EOS/USD pair. The pair even spiked below the $0.730 support. A low is formed near $0.7276 and the price is now consolidating losses.

EOS is trading well below $0.765 and the 55 simple moving average (4 hours). On the upside, immediate resistance is near the $0.760 level. It is close to the 50% Fib retracement level of the downward move from the $0.7915 swing high to the $0.7276 low.

The first major resistance is near the $0.765 level or the 61.8% Fib retracement level of the downward move from the $0.7915 swing high to the $0.7276 low. A clear move above the $0.765 level could start a steady increase toward the $0.78 level. The next major resistance might be $0.80. Any more gains might send the price toward the $0.850 level.

On the downside, immediate support is near $0.735. The next key support is near the $0.730 level. If there is a downside break below the $0.730 support, the price could test the $0.705 support in the near term.

Looking at the chart, EOS price is now trading below the $0.765 level and the 55 simple moving average (4 hours). Overall, the price could continue to decline if it stays below the $0.765 and $0.780 resistance levels.

Technical indicators

4 hours MACD – The MACD for EOS/USD is losing pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI is now below the 50 level.

Major Support Levels – $0.730 and $0.705.

Major Resistance Levels – $0.765 and $0.800.

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