■ Recent price action shows EOS consolidating above the $1.05 psychological level after retracing from its $1.1438 local peak.
■ The meme coins list4-hour chart reveals a constructive pattern with the 55 SMA acting as dynamic support alongside a rising trendline at $1.035.
■ Fibonacci levels suggest strong buying interest near the 61.8% retracement zone of the recent upward swing.
■ Market structure remains bullish provided the $1.00 support floor holds during pullbacks.
EOS demonstrates resilience against USD, mirroring broader crypto market trends. The asset maintains upside potential barring any decisive breakdown below critical support thresholds.
Market Structure Assessment
Following its ascent past the $1.05 resistance zone, EOS established higher highs against the greenback. The breakout above the 55-period moving average on 4-hour timeframes confirmed improving technical conditions. Price action carved out a local top at $1.1438 before entering consolidation mode.
The subsequent retracement found substantial absorption near the 50% Fibonacci retracement level, drawn from the swing low of $0.9354 to the recent peak. Notably, the $1.00 psychological level continues to attract buyers, forming a potential accumulation zone. Chart technicians observe a developing ascending trendline currently offering support around $1.035, coinciding with the 61.8% Fibonacci level.
Current trading above both the $1.05 mark and the 55 SMA suggests maintained bullish momentum. Immediate overhead resistance clusters near $1.1080, with a decisive break potentially accelerating moves toward the $1.1420 swing high. Sustained buying pressure could eventually target the $1.20 psychological barrier.
Conversely, market participants should monitor the $1.05 level for potential support shifts. A breakdown below the $1.00 handle might trigger extended liquidation toward the $0.88 support zone. The bullish thesis remains valid as long as price maintains above the trendline and key Fibonacci support.
Momentum Indicators
4-hour MACD - The moving average convergence divergence histogram shows expanding bullish momentum as it trades north of the signal line.
4-hour RSI - The relative strength index maintains its position above the 50 midline, though not yet in overbought territory, leaving room for additional upside.
Critical Support Zones - $1.050 (immediate), $1.035 (trendline), $1.00 (psychological).
Key Resistance Areas - $1.1080 (local), $1.1420 (swing high), $1.20 (psychological).
