EOS has seen an impressive 25% price surge over the past 24 hours of trading, bringing the current price up to $3.60, at the time of writing. EOS is now the fourth largest cryptocurrency by market cap. The total market cap of EOS is $3.3 billion with a trading volume of $2.3 billion.
Looking at the EOS/USD 1-Day Chart:
- We can see that EOS has recently broken above an ascending price channel that the market had previously been trading within.
- Price action had surged up to the resistance level at the short-term 1.414 Fibonacci Extension level (marked in orange) located at $3.97 – $4. It then got rejected and currently trading at lower resistance of the bearish .5 Fibonacci Retracement level (marked in red) priced at $3.70.
- From above: If the bulls break above $4.00, the nearest higher resistance lies at the bearish .618 Fibonacci Retracement level (marked in red) located around $4.20.
- Further higher resistance lies at $4.48. This was a previous support that stretches back to March 2018. Above is the $4.93 and $5.36 price marks.
- From below: The closest support lies at the upper boundary of the previous ascending price channel. This is followed up with support at the bearish .382 Fibonacci Retracement level, marked in red, at $3.19.
- Further support levels below are the $3.00, $2.90 and $2.78.
- The RSI is in its overbought territory which could indicate the possibility of a potential market pullback or correction in the short term.
- Price action has also broken above the 100-day moving average line.
- Volume has surged higher over the past two days, as mentioned above.
Looking at the EOS/BTC 1-Day Chart:
- EOS/BTC has recently surged into resistance at the 0.0009575 BTC level. It is now trading at lower resistance at the short term 1.618 Fibonacci Extension level, marked in purple, located at 0.00092344 BTC.
- From below: The nearest support lies around 0.00090 BTC, behind is the 0.0008269 BTC level. This is followed by the 0.0007313 BTC level (along with the 100-day moving average line) and the rising trend line support.
- If the sellers break below the trend line, then more support lies at 0.0006332 BTC.
- From above: If the bulls can break above the resistance of 0.0009575 BTC we can expect higher resistance retest at the psychological level of 0.00100 BTC.
- Further resistance toward the upside is expected at 0.0011 BTC and 0.0012 BTC.
- Price action has managed to climb above the 100 days moving average earlier this month.
- The RSI has also reached the overbought territory in the EOS/BTC market.
- Volume has increased sharply over the past three
The post EOS Surges 25% Following Breakout of MA-100: Is $4 In Sight? Price Analysis Feb.19 appeared first on CryptoPotato.