EOS Price Prediction: Will It Regain $1 Mark by the Next Month?

• The EOS crypto price is trading at $0.79 with an intraday loss of 1.16%.
• The traders and investors are keen to lift the price to the $1 mark soon.

In a broader timeframe, the EOS (EOS) price has performed negatively, witnessed a sharp fall till October 2023, and recorded a new all-time low. Since October 2023, the EOS price has been in a bullish trend, but this bullish move was interrupted near the $0.90 mark. 

In the last week of December, the EOS price faced resistance from the $0.90 level and further performed negatively. For the last few weeks, the EOS crypto price has witnessed steady gains, and on 23rd February, the price showed a positive spike of 13.75% but failed to sustain.

The EOS price has risen by 16% this month and reached the $8 hurdle, but the current candlestick indicates the selling pressure. It seems that profit booking can be initiated soon.

EOS crypto price is trading over the significant moving average, which showcases the bullish trend. Due to the current selling pressure, the RSI has dropped below the RSI-based moving average. 

EOS Price Technical Analysis Over 1-D Timeframe

After the bullish trend, the EOS crypto price has failed to sustain the $0.90 level and has stuck in a parallel channel. The price has taken support on the $0.660 support level, surpassing the significant moving average and heading for the resistance level of $0.90.

The EOS price is rising by taking support on the 20-day moving average. If the price slips below the 20-day EMA, it will melt to the 200-day EMA in a few days. However, the EOS price may melt to the support level of $0.660 if it fails to defend the 200-day moving average.

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As per the technical chart, the EOS price is in a bullish trend, but currently selling for the short term is detected. If the price defends the 20-day moving average and surpasses the $0.80 level, it will soon continue the previous trend and approach the resistance level of $0.90.

Technical Analysis of the EOS Price on 4-H Timeframe

In a 4-H time frame, the EOS crypto price has been rising through an inclining channel but is currently facing resistance from $0.80 and heading for the lower trendline. If the price defends the lower trendline and forms any bullish candlestick, it may gain bullish momentum and achieve the upper trendline.

On the other hand, if the price falls to the 200-day moving average and fails to defend the lower trendline, the sellers may manage to drag the price down to the $0.650 level. RSI is at 45 and heading towards the oversold zone, which indicates the bearish trend.

Conclusion

According to the price action, the EOS price is recovering its previous losses and rising by forming higher lows and higher highs. Recently, the EOS crypto price has surpassed the significant moving average, indicating buyers’ strength. But a bearish crossover between the RSI and RSI-based moving average has been generated, which showcases the bearish move ahead.

Technical Levels

Resistance: $0.80 & $0.90

Support: $0.74 & $0.67

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.