EOS Technical Analysis May 12th

EOS rebounded over 60%, hitting its highest level since June 2018 at $ 14.87. EOS also performed well against BTC, returning to October 2020 highs after 26,190 SATs.

EOS / USD is returning to highs not seen since June 2018

Key support levels: $ 13, $ 12.3, $ 10.78.

Major Resistance Levels: $ 14.85, $ 16.5, $ 17.75.

EOS exploded a total of 63% yesterday notification BlockOne raised $ 10 billion to launch a new exchange. According to the news, EOS rose from $ 9 to over $ 14 by the end of the day. Today it climbed further to $ 14.87 – a price not seen since June 2018.

EOS started rising in early May before the announcement was made. Last week it rebounded from $ 6 to break a long-term resistance trendline to hit $ 13. From then on, the price fell until it found support around $ 9 earlier in the week.

EOS / USD daily (as of today 6:23 p.m. Synthetic Teamese time) | Source: TradingView

EOS price prediction/Short term USD

Looking ahead, initial resistance is at $ 14.85 (Fib Extension 1.414). This is followed by $ 16.5 (Extended Fib 1,618), $ 17.75 (Fib Extension 1.272 – red), $ 19.25 (Fib Extension 1.414 – red) and $ 20.

On the flip side, the initial support is at $ 13. This is followed by USD 12.3 (Fib 0.236), USD 10.78 (Fib 0.382), USD 10 and USD 9.55 (Fib 0.5).

The RSI is showing bearish divergence as price action makes a new high while the RSI does not. This could signal an impending retracement that could push EOS back towards USD 10 in the short term.

EOS / BTC – Cow approaches mThe highest level in October 2020

Main support levels: 22,175 SAT, 20,000 SAT, 17,700 SAT.

Important resistance levels: 26,190 SAT, 27,500 SAT, 29,600 SAT.

EOS also does very well against BTC. Prices started the month below 12,000 SAT and climbed higher in the first week of May, peaking above 22,000 SAT. Then the price fell last week until it found support at 16,000 SAT over the weekend.

The news of the new exchange made EOS / BTC soar yesterday, from 16,000 SAT to over 25,000 SAT. Today it continued to hit 26,190 SAT before hitting the current mark of 21,690 SAT.

EOS / BTC daily (as of today 6:51 p.m. Synthetic Teamese time) | Source: TradingView

Price forecast EOS / BTC Short term

In the future, the first support will be 22,175 SAT (Fib 0.236). This is followed by 20,000 SAT (Fib 0.382), 17,700 SAT (Fib 0.5) and 15,700 SAT (Fib 0.618).

On the other hand, the first resistance is at 26,190 SAT. This is followed by 27,500 SAT (1,272 expansion), 29,600 SAT (1,414 expansion), 31,565 SAT and 33,000 SAT (August 2020 high).

Likewise, the RSI is also showing signs of a bearish divergence, which could lead to a short-term retracement in the market.

You can see the EOS price here.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Minh Anh

According to Cryptopotato

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