EOS Technical  Analysis: EOS/USD ripped to shreds, manages to find buyers sub-$5, the worst may be yet to come

• EOS price on Thursday was dealt hammer blow, after big selling in session before, nursing losses of 2%.
• EOS/USD able to prop back above $5, but stopped by resistance seen at the 23.6% Fibonacci, proven sticky area.

EOS/USD 4-hour chart  

Spot rate:                    0.29080

Relative change:        -1.98%

High:                           5.2400

Low:                            4.8365

Trend:                         Bearish

Support 1:                   4.9500, demand zone entrance.

Support    2:                  4.8365,  session (Thursday) low & long lower wick

Support    3:                  4.7685, 24th August low.

Resistance 1:              5.2500, 23.6% Fibonacci.

Resistance 2:             5.4230, resistance on 4-hour chart.

Resistance 3:             5.5395, 38.2% Fibonacci.