EOS Price Analysis: Recovery Could Face Hurdles Near $3.8 EOS started a fresh decline after it failed to clear the $4.300 resistance against the US Dollar. The price is currently trading well below the $4.000 support and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near $4.050 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could correct higher, but it is likely to face sellers near $3.750 and $3.800. EOS price is showing bearish signs below $4.000 against the US Dollar, similar to bitcoin. The price is likely to continue lower as long as it is below the $3.800 level. EOS Price Analysis This week, EOS price made two attempts to gain strength above $4.300 against the US Dollar. However, the bulls failed to gain pace above the $4.300 level, resulting in a fresh bearish reaction. There was a break below the $4.100 and $4.000 support levels. There was also a break below a major bullish trend line with support near $4.050 on the 4-hours chart of the EOS/USD pair. The pair gained pace below the $3.800 support level. A low is formed near $3.449, and the price is now trading well below the $4.000 support and the 55 simple moving average (4-hours). An immediate resistance is near the $3.750 and $3.800 levels. The 50% Fib retracement level of the downward move from the $4.302 high to $3.449 low is the next resistance at $3.875. The next major resistance for the bulls on the upside is near the $3.950 and $4.000 levels. The 61.8% Fib retracement level of the downward move from the $4.302 high to $3.449 low could also prevent upsides near the $4.000 zone. A clear break above the $3.850 and $4.000 levels could open the doors for a strong increase. The next key resistance is near $4.300, above which the bulls are likely to aim $4.500 or even $5.000. This is the time to buy more Let's keep pumping the market guys #eos #eoscoin #altcoinfeeds #altcoiner #altcoinarmy #altcoindaily #altcoin #altcointrading https://www.instagram.com/p/CM1k2p-gqqT/?igshid=1acvqxdqbjx16
