The new week has started off for EOS even worse than the previous one, as its rate dropped by around $0.5 just in a few hours.
Currently, EOS is the biggest loser among the top 5 coins, having lost more than 3% over the last 24 hours.
![Article image](https://u.today/sites/default/files/styles/736/public/inline-images/Picture%201%20%282%29_0.png)
On the 1-hour chart, there is a strong resistance zone at $5, which was not broken yesterday. If an important point of the previous week was $5.5, then a crucial area of the current one should be $5.3.
At the moment, it is important to reach and consolidate at $5.3 in order to move to previous levels.
Taking into consideration technical patterns, the MACD indicator shows the formation of a new bullish wave, which is supposed to push the price up.
Analyzing the 4-hour chart, a crucial resistance level is $6, while the vital support zone is $5. Currently, the quotes are trading at their local minima since the beginning of the month.
![Article image](https://u.today/sites/default/files/styles/736/public/inline-images/Picture%202%20%283%29.png)
The RSI indicator shows the coin is oversold with an important point of 60. If we apply this pattern to our chart, we can predict that $5.5 is equal to the data of the indicator.
However, that bounce back is only possible with the interest of traders and investors in EOS. Now we do not see such a tendency, as the market capitalization of the 5th most popular coin lost around $200 million over the last few days.
The price of EOS is trading at $5.22 at the time of writing.