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  • EOS is currently taking a jab at the August 16 swing high at $5.95.
  • A breach of the said $5.66 resistance level could propel EOS upwards.
  • EOS price prediction is bullish as it sends multiple bullish signals on the four-hour chart.

EOS opened the day on Monday trading in the green as bulls sought to undo Sunday’s losses that pushed EOS price down to $5.20. This has seen EOS have three straight bullish sessions on the four-hour chart before attempts by the bulls to resistance at $5.67 were immediately rejected as the asset retreated to seek support at the $5.60 psychological level.

At the time of writing, EOS price teeters at $5.62 on most crypto exchanges after rising by approximately 3% over the last 24 hours as bears focus on breaking below the immediate support at $5.60.

Bullish Eos Price Stares At New Uptrend

EOS rallied roughly 21% from the August 18 low at $4.73 to today’s high around $7.708. This rally saw EOS flip the $5.0 psychological level and the 50 period Simple Moving Average (SMA) from resistance to support as well as flip the parabolic SAR from positive to negative as seen on the four-hour chart.

Although there have been numerous attempts to scuttle EOS’s bullish run, the EOS price prediction remains significantly bullish.

Note that if the bullish momentum is sustained, EOS price will shatter $5.66 and $5.86 respectively and attempt to re-test the range high at $5.95 (red line).

EOS/USD Four-Hour Chart

EOS price Four-Hour Chart
EOS price Four-Hour Chart by Tradingview

A decisive close above immediate resistance at $5.66 will validate the bullish bias and the presence of buyers. This development is likely to set the stage for a leg-up that will retest the range high at $5.95, roughly an 18% ascent from the current price.

Market participants should note that this rally may occur now or after a pullback to the $5.33 support wall embraced by the 50 SMA.

EOS Sends Multiple Bullish Signals

EOS/USD price has sent multiple bullish crypto signals on the four-hour chart. For example the SuperTrend Indicator which changed from red to green earlier today and flipped below the price, sent a call to buy signal. Note that as long as the SuperTrend moves below EOS price, the bullish leg will continue.

EOS /USD Four-Hour Chart

EOS price Four-Hour Chart
EOS price Four-Hour Chart by Tradingview

Also note that the parabolic SAR reversed from negative to positive on the same four-hour chart on Monday morning. At the same time, the Moving Average Convergence Divergence (MACD) indicator sent a bullish signal. This happened earlier today when the MACD line (blue) crossed above the signal line (orange). Realise that as long as the MACD continues to move above the zero line in the positive region, the EOS’s bullish bias will remain.

On the flipside, if EOS closes the session below the $5.54 support, the next key level to watch would be the 50 SMA at the $5.33 level.

How to Buy EOS

If you want to trade EOS, you need to visit following exchanges, register a free account and get started:

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  • FTX
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