- EOS jumps towards $4.25 resistance after establishing support at $4.00.
- Following the 5% growth, technicals suggest that consolidation is likely above $4.00.
EOS is bullish in a generally slow market. The crypto started to show signs of growth during the Asian session on Thursday. At the time of writing, EOS/USD is trading 5% higher on the day after opening the session at $3.96.
Dancing at $4.15, EOS bulls are looking forward to jumping above the short term resistance at $4.12 in preparation for an assault on levels towards $5.00.
Meanwhile, the immediate downside is supported at $4.00 in addition to the support offered by the ascending trendline. The 50 SMA at $3.75 on the 4-hour chart is in line to offer more support marginally above the 100 SMA. EOS’s major support lies between $2.00 and $2.25.
Technically, the path of least hurdles is upwards sideways. The RSI, for example, is almost crossing above 70. The movement towards 80 and 90 levels, will stir up the price pushing EOS nearer to o$5.00. The MACD in the same 4-hour range shows that consolidation is likely to occur above $4.00 while the resistance at $4.25 could remain in place.
EOS/USD 4-hour chart
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