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EOS price analysis: EOS/USD battles to defend $5.0 support as cryptocurrencies react to falling stock prices



  • EOS id down 9.93% in the last 24 hours after breaking the bullish trendline support at $5.82.
  • Globally, stocks have taken a plunge between 3% – 5%.

EOS declines are unstoppable following the formation of a subtle double top pattern. The reaction to the pattern was catalyzed the high volatility in the market that has led to the plunging of prices across the board. The worst hit by the declines are the major cryptocurrencies in the top 20 bracket. EOS id down 9.93% in the last 24 hours after breaking the bullish trendline support at $5.82. This opened the door for more losses as EOS fell like a stone in the air past several other support zones at $5.6 and $5.4.

At the moment, $5.3 has given in to the selling pressure that seems not to slow down. The next support is at $5.2 while the lifeline support at $5.0 is well within reach. All indicators are pointing towards continued declines at least in the short-term. But if the buyers can avoid declines below $5.2 then EOS can find balance and prepare for a pullback.

The markets are jittery both in the crypto space and the stocks. Globally, stocks have taken a plunge between 3% – 5%. At the same time the majority of stock indexes are recording losses ranging from 10% to 20%. Gold is reported to be performing relatively higher and is believed to be used to hedge against the falling stocks. However, cryptos seem to be losing their competitive edge with more mature assets like gold. The reaction of crypto prices to stock prices is hard to explain because both of these assets have different drivers for their price actions. However, the current reaction could be associated with the Fed’s actions in terms of interest rates.

At the same time, it is not clear if the funds that are coming out of the stocks will end up in gold and other bond related products or digital assets will get a boost as well.

EOS/USD 4-hour chart

Source: fxstreet

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EOS Price Analysis: EOS/USD Trends of October 22-28, 2018



Before EOS can return to its uptrend movement, the bulls will have to increase their momentum, push the EOS price above the resistance level of $6.3 and sustain it.

Key Highlights:

  • Consolidation is ongoing;
  • the coin may be pushed down;
  • EOS Price breaks out to the north or south is inevitable.

EOS/USD Price Long-term Trend: Ranging

Resistance levels: $6.3, $6.9, $7.5
Support levels: $4.7, $4.1, $3.4EOS/USD price is consolidating in its long-term outlook. Exactly as it was predicted last week that in case the bulls increase their pressure EOS price will increase and break the resistance level of $6.3. On October 15, the EOS/USD price was increased and broke the predicted EOS price level of $6.3 by the pressure from the bulls with the formation of strong bullish candles. The bears resisted the continuation of increased price and pushed the EOS price to the previous low level, then it enters consolidation mode again.

Before EOS can return to its uptrend movement, the bulls will have to increase their momentum, push the EOS price above the resistance level of $6.3 and sustain it. Should the bears increase their pressure, the coin may be pushed down and break the support level of $4.7. EOS price is between the 10-day EMA and the 50-day EMA, which indicates consolidation is ongoing.

Moreover, the Stochastic Oscillator Period 14 on the daily chart is above level 25 (oversold region), with its signal lines pointing towards north, which means there could be a bullish movement this week towards the resistance level of $6.3.

EOS/USD Price Medium-term Trend: Ranging

The EOS price is ranging on the 1-Hour chart. Last week, the Bears return the cryptocurrency to its previous state of consolidation, after the bulls increased their momentum and pushed the EOS price to the north, broke up the resistance level of $6.3 but could not reach the resistance level of $6.9 before it was pushed down.

The coin is on the 10-day EMA and 50-day EMA which are interlocked to each other, indicating consolidation is ongoing. In case the bulls increase their momentum, EOS price will increase towards the resistance level of $6.3. Nevertheless, the Stochastic Oscillator period 14 is above 50 levels with its signal lines pointing downward, which connotes bearish movement in case the bears increase their pressure.

Source: coinspeaker
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How EOS solves the problems Ethereum can’t handle



At Platio we are creating a banking solution for businesses that need to seamlessly and securely manage both crypto and traditional currencies. To do this we need blockchain technology which is secure, fast and reliable.

Based in London, Platio has been acquiring licensing which now spans to over 32 countries. On this regulatory foundation Platio is building the next generation of banking and financial services with the transparency and immutable trust that blockchain technology offers.

Finding the right blockchain technology

As you can imagine, a system of this scope and mission-critical gravity requires a blockchain infrastructure that can reliably and consistently meet the demand. Like many other blockchain-based ventures, the first solution we considered was Ethereum.

Ethereum capitalized on it’s first-mover-advantage in the dApp (decentralized application) space extremely well. Its brilliant, programmable extension of the blockchain technology pioneered by Bitcoin opened up a whole new world of possibilities.

In assessing the feasibility of Ethereum for Platio’s complex and vast use-case it became apparent very quickly that as innovative and widely adopted as it is, Ethereum simply does not have the transactional throughput or scalability that high-usage enterprise applications require.

Ethereum throughput is only 15 transactions per second. Transaction finality is at around 6 minutes which is very high latency.

Usage fees (Gas costs) are high and roughly 90% of the transactions on the Ethereum platform come from ICOs and payments – not dApps, which does not not bode well for a platform built specifically for dApps. These factors and more make Ethereum a less than optimal choose for building a financial ecosystem.

After careful analysis of other blockchain platforms across several criteria, Platio has adopted EOS as the underlying infrastructure for its smart banking ecosystem.

The case for EOS

Platio Chief Architect Charles Voltron explained why. “Ethereum has been a great platform for ICOs,” he said, “and can just about handle the trading of digital cats (Cryptokitties). But if you are looking to build real world, mission critical applications on the blockchain, EOS is the obvious choice for us”.

EOS is the brainchild of Dan Larimer, who has been around crypto long enough to have argued online with Satoshi Nakamoto over Bitcoin’s transaction processing speed. Dan went on to create the world’s first decentralized exchange (Bitshares) as well as a decentralized social media platform (Steemit) with an entirely new blockchain concept called Graphene.

Graphene’s innovative consensus mechanism known as DPoS (Delegated Proof of Stake) has demonstrated 10-100k transactions per second in stress testing. The stated goal of EOS is to achieve 1 million transactions per second.

The EOS mainnet, launched in June of 2018, is achieving roughly 1200 transactions per second with very low latency. This is the kind of performance required by banking grade software such as the Platio ecosystem.

In choosing EOS, Platio is in good company. Bitfinex, ranked as one of the world’s top 5 cryptocurrency exchanges by volume, has announced plans to build the next version of its exchange on EOS.

The key to EOS’s performance is the DPoS consensus mechanism which, unlike Ethereum and Bitcoin, does not include every node on the network to validate transactions. Instead EOS token holders elect 21 “witness” nodes, incentivized by EOS token payments, to handle validation. This significantly reduces the time and processing needed to validate a transaction.

Another advantage of the EOS platform is that, unlike Ethereum, it allows for commission free transactions. This functionality allows Platio to create commission free products like Internal Transfers.

Development on EOS is also less cumbersome than with the Ethereum programming platform “Solidity”.

EOS is extensible to any programming language (currently available for C++ and Rust), so developers can bring their hard-earned experience in the language of their choice to build on EOS, rather than have to learn an entirely new language.

This developer-friendly approach also includes the ability to freeze malfunctioning applications which have already been deployed to the EOS blockchain, and fix bugs much more easily than with Ethereum’s Solidity.

Moreover, Platio Blockchain will be connected with the EOS Mainnet as a Sidechain, allowing the PGAS token to be used on both the Platio Blockchain and the EOS Mainnet. From a business point of view this makes sense as we can keep critical data both immutable, and highly available.

Due to the Turing completeness all the tokenised assets (crypto, fiat and stocks) we can use smart contracts to provide game-changing functionality, such as our our Smart Escrow and Asset Guard products, with complete transparency.

EOS has an active and growing developer community and Block.One, the company behind EOS, raised $4.2 Billion in a public crowdsale, making EOS the most capitalized blockchain project to date.

With EOS’s proven technical innovation, massive funding and zealous developer community, Platio’s revolutionary smart banking ecosystem moves from the realm of possibility to an exciting opportunity. Together we will empower our users to take advantage of the best of both crypto and mainstream finance, increasing confidence in crypto as an asset and driving its global adoption.

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EOS price analysis: This triangle breakout is nearing



  • EOS forms a triangle on the medium term chart.
  • Breakout point isn’t far.

EOS, the crypto that came back to where it was after rallying more than seven times from the price in the month of April, has formed a triangle that can result into a breakout and may result into prices reaching as high as $8, in case of a bullish breakout.

EOS/USD is up nearly 2 percent on day at $5.556 and in a less than 2 percent range for the day so far. On the 480-minute chart the formation of a triangle is a bullish sign the bulls may cling on to. $5.70-5.75 is the level which the bulls need to focus on – upper end of the triangle.

If broken out, the confirmation would still be pending unless it crosses the $6.00 mark. On the downside $5.25-5.20 is where the bears will focus, break of which will result in bulls hiding in the caves.

EOS/USD 480-minute chart:

Source: fxstreet

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