- EOS seems to have a support level at $1.81; recovery has reached above $2
- The coin is trading above both the moving averages with a mild positive bias
- Immediate resistance level stands at $2.08; RSI, along with MACD is giving bullish signs
- EOS has been consolidating at lows after it faced strong bearish hit on March 13 due to Coronavirus effects on the market
EOS Price Analysis
EOS coin has paced up its recovery after it met a few price plunges yesterday. The coin has managed to climb above $2 over the last couple of days; notably, the coin had dipped as low as $1.6 on March 13. The EOS price was above $5 around a month ago, and the current market circumstances have caused a few SR flips over the last couple of weeks.
Yesterday, the EOS coin was trading with a bearish bias initially. In the latter half, EOS found support at $1.88 before it sharply traded upwards to touch the $2 price mark. However, it couldn’t as it faced rejection at $1.98.
EOS closed the day at $2.03 after it formed a dip with a correction at $1.92. Today, the coin has resumed the uptrend and is battling with resistance above $2. Moreover, the coin has tested support levels at $1.98 today (just above the 50% Fib level).
EOS price has just moved above the moving average lines and is still heading upwards with a weak bullish bias. RSI of the coin is at 59 showing no extremities at the moment. Meanwhile, the MACD lines are in a positive area with its MACD line on the upside.