• EOS price is struggling below the $1.15 resistance against the US Dollar.
• The bears are actively protecting the $1.15 resistance zone, but there is a key rising channel with support near $1.10 on the 4-hours chart of the EOS/USD pair.
• 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 Struggling Against US Dollar
EOS price has started a fresh decline from its recent high of $1.15 against the US Dollar. The bears were able to push the price below a key rising channel with support near $1.10 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). As a result, there could be further losses if it stays below $1.12 and $1.15 resistance levels in the coming sessions.
Key Support Levels
On the downside, an immediate support is near the $1 mark for EOS buyers to hold gains in check.. Below this, there is another major support close to 0$.965 level which could act as strong buy zone for traders looking to enter long positions in this market againt USDT pairs or any other stable coins like USDC or PAXG etc..
Upside Could be Limited Above 1$
On upside, an immediate resistance lies at 1$.12 level followed by another major hurdle at 1$.15 level above which bulls might attempt to recover towards 1$.20 level and then eventually aim higher towards next major barrier placed near 1$.25 mark in short term basis..
The MACD for EOS/USD is presently gaining momentum within bearish region while RSI (Relative Strength Index) is now trading well below 50 threshold which indicates that sellers are still holding tight grip over current market trend & situation remains same until bears fails to defend current 1$.12 resistance level on closing basis..
Overall, EOS price shows bearish bias beneath current market structure & it may extend fresh losses below 0.$965 support if buyers fails to hold current level & protect prices from further declines as we have seen recently around mentioned critical levels..