Annual Forecast for EOSUSD (2021): EOS May Breakout at $4.1

Annual Forecast for EOSUSD (2021): EOS May Breakout at $4.1

Price Analysis – December 25

Ranging movement may continue in 2021 within the mentioned level until there is a breakout either at the $4.1 resistance level or $1.8 support level. Above the current price level is found $4.1, $5.4, and $6.8 resistance levels. Below it is $1.8, $0.4, and $0.2 major support levels.

Key Levels:

Resistance levels: $4.1, $5.4, $6.8
Support levels: $1.8, $0.4, $0.2

EOS/USD Monthly Chart: Ranging

EOSUSD is ranging in the monthly chart outlook. The movement of the EOSUSD has been within the resistance level of $4.1 and the support level of $1.8 since the beginning of the year 2020. In other words, the coin is ranging within the mentioned level. An attempt was made in February to break up the resistance level of $4.1 but the bears returned the price into the ranging level. Up to date, the price has not moved beyond the level.

EOSUSD Monthly chart, December 25

The coin is trading within and below the two EMAs, however, the 9 periods EMA is below the 21 periods EMA and the price is trading close to the two EMAs. Ranging movement may continue in 2021 within the mentioned level until there is a breakout either at the $4.1 resistance level or $1.8 support level. Above the current price level is found $4.1, $5.4, and $6.8 resistance levels. Below it is $1.8, $0.4, and $0.2 major support levels.

EOS/USD Price Weekly Chart: Ranging

Cryptocurrency is on the ranging mode in the weekly chart. In the year 2020, EOSUSD reached a high of $5.4 price level and the low at $1.8 price level. EOSUSD gradually decline to the support level at $1.8 within the period of February 10 and March 09.

EOSUSD weekly chart, December 25

The 9-day EMA is interlocked with the 21-day EMA with the price trading over the two EMAs, confirming the consolidation. The Relative Strength Index period 14 is bending down at 40 levels indicate a sell signal.

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Author : Azeez Mustapha

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.