Show

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>EOS price fell 16% in the last week and reversed down after facing resistance at the $0.9000 level.</a> </li> 
 <li> <span>2</span> <a>It slipped below the 200-day EMA, denoting the trend has reversed down again.</a> </li> 
 <li> <span>3</span> <a>EOS crypto eroded the gains of December 2023 and returned to the demand zone.</a> </li> 
</ul> 
<p>EOS price prediction has turned bearish for the short term and suggests more decline is possible. It faced sharp rejection from the $0.900 level and the price collapsed with high momentum.&nbsp;</p> 
<p>EOS crypto formed a bearish pattern and dropped below the 50-day and 200-day EMAs. It indicates that the trend is in the downward direction. So, investors and traders need to be careful before creating positions in any direction.&nbsp;</p> 
<p>EOS coin price tumbled by 16% in the last week and eroded the complete gains generated in December 2023. At present, the coin is sliding down to the $0.631 level, which is immediate support visible in the chart.&nbsp;</p> 
<p>If buyers were present near to support, a temporary bounce may come. The sudden fall in <a href="https://www.thecoinrepublic.com/2023/12/22/eos-price-prediction-is-eos-anticipating-to-surpass-0-900/">EOS</a> had shaken the confidence of the long-term investors. If the price declines further, it might trigger panic and existing investors may get forced to offload their holdings.&nbsp;</p> 
<p>However, if buyers succeed in halting the downfall near to support, we may see a narrow-range consolidation. Currently, the pair of EOS/USDT coins is trading at $0.714 with an intraday decline of – 3.38%.</p> 
<h2 class="wp-block-heading" id="strong-will-eos-price-show-a-recovery-by-month-end-strong"><strong>Will EOS Price Show a Recovery by Month End?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="698" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168.png" alt="EOS Price Tumbles 16% and Reverses Down from $0.900; What’s Next?" class="wp-image-187451" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168-300x131.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168-1024x447.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168-768x335.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168-1536x670.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168-750x327.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-168-1140x497.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/AzD3DStJ/">EOS/USDT</a> daily chart by Tradingview
  </figcaption>
 </figure>
</div> 
<p>EOS price struggles near to December 2023 low placed at $0.673. Buyers are trying their best to absorb the sell off, which will help to halt the downfall. However, the sellers are very aggressive and they may not easily step back from their mission of eroding the gains.&nbsp;</p> 
<p>The chart pattern of <a href="https://www.thecoinrepublic.com/2023/12/22/eos-price-prediction-is-eos-anticipating-to-surpass-0-900/" target="_blank" rel="noreferrer noopener">EOS crypto </a>shows the dominance of bears. So, any short-term pullback may face difficulty in holding the higher levels.&nbsp;</p> 
<p>The technical analysis suggests that this downfall has hurt the investors’ sentiment and EOS turned out as an underperformer. So, it’s better to avoid building any long positions.</p> 
<h3 class="wp-block-heading" id="strong-when-will-eos-crypto-turn-bullish-strong"><strong>When Will EOS Crypto Turn Bullish?</strong></h3>  
<div class="tradingview-widget-container"> 
 <div class="tradingview-widget-container__widget"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-advanced-chart.js" async>
  {
  "width": "900",
  "height": "550",
  "symbol": "BINANCE:EOSUSDT",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;RSI",
    "STD;Supertrend"
  ],
  "support_host": "https://www.tradingview.com"
}
  </script> 
</div>  
<p>EOS crypto price also looks bearish on a weekly time frame chart. The presence of sellers is visible on higher levels.&nbsp;</p> 
<p>So, to regain the investors’ confidence buyers have to take control of the supply zone at $0.916. Until this barrier gets taken out the bears will dominate and restrict the upside.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>EOS price prediction suggests that this downfall has damaged the chart structure. So, the price may trade with a bearish bias for the coming few weeks. The analysis says, this coin may decline further, so it is better to avoid building longs.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $0.916 and $1.040</li> 
 <li>Support levels: $0.631 and $0.520</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

EOS Price Tumbles 16% and Reverses Down from $0.900; What’s Next?

Table of Contents

Thecoinrepublic.com

Other articles published on Jan 9, 2024

Top Analyst Predicts Cardano (ADA) Price To Hit $6, Know More Here

Reverse Indicator Jim Cramer Talked About Bitcoin: ''Drawing Attention to This Level!''

Bitcoin – Cleanspark wants 10% of the global hashrate

Dogecoin Millionaire Buys Heavily Into New Pushd Presale While Cardano Falls

Daily Analysis: BTC, TIA, BSV, HNT, BONK

Optimistic Insights from K33 Research’s Crypto Report

Join our free newsletter for daily crypto updates!