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EOS

EOS continues to bleed as price drop crosses the 20% barrier; altcoins crumble

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The bear market maul has continued with several cryptocurrencies seeing visceral bleeds. Many cryptocurrencies also saw position changes on the cryptocurrency chart, an event that saw market cap changes and overtakes. Bitcoin [BTC], Ethereum [ETH] and EOS have not stopped falling on the price spectrum with double-digit drops becoming a common sight.

At the time of writing, EOS was spiraling by 20.85% with a total market cap of $1.581 billion. The cryptocurrency was trading for $1.75 and was holding a 24-hour market volume of $820.937 million. A majority of the trade volume was held by OKEx which had a grasp on 13.71% of the total EOS trade. OKEx was followed by DOBI trade, which controlled $72.406 million worth of EOS on the network.

EOS 24-hour chart | Source: CoinMarketCap

EOS 24-hour chart | Source: CoinMarketCap

December has not been kind to EOS proven by the fact that since December 1, the cryptocurrency closed at a lower price than the previous day. Over the past week, EOS has been severely wounded by the bear with recent reports showing that the cryptocurrency has dropped by more than 30% in a seven-day time frame. It has also lost its position as the fifth-largest cryptocurrency after the climb of Stellar Lumens [XLM] and Bitcoin SV [BSV].

Bitcoin SV has made a splash in the crypto verse as it is the only cryptocurrency, other than Tether, that is enjoying a bullish run. The rise has been substantial too, with Bitcoin SV spiking by more than 18%.

The EOS community had some reason to rejoice recently when it was revealed that EOS had the most number of transactions compared to any other cryptocurrencies, even surpassing that of Ethereum [ETH] and Tron [TRX]. The finding also showed that EOS and Tron cumulatively contributed to 82% of all cryptocurrency transactions.

Source.ambcrypto

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EOS

EOS Daily Price Forecast

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EOS/USD Medium-term Trend: Bullish

Resistance levels: $ 6, $7, $8.
Support levels: $3, $2, $1.

Last week the price of EOS was in a bearish trend. On December 7, the crypto’s price fell to the low of $1.67 and made a bullish movement toward the EMAs. The crypto’s price broke the 12-day EMA and the 26-day EMA but could not sustain hold at the bullish trend zone.

Meanwhile, the price is EOS is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.

EOS/USD Short-term Trend: Bullish

On the 1-hour chart, the price of EOS is in a bullish trend. On December 7, the crypto’s price fell to the low of $1.56 and commenced a bullish movement. The crypto’s price  has broken the EMAs and it is above the bullish trend zone.

The price broke below the 12-day EMA and it is ranging above the 26-day EMA. The MACD line and the signal line are above the zero line which indicates a buy signal. There will be no long trade recommendation as price is in bearish trend zone.

Source: Bitcoin Exchange Guide

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EOS

EOS price analysis: EOS/USD hopeless under $2.0

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  • EOS recovered from recent lows, but $2.0 remains unconquered.
  • A sustainable growth above $3.0 is needed to reduce the pressure.

EOS slumped well below critical $2.0 handle and touched $1.5 handle on Friday. While the 7th largest coin with a market value of $1.7B managed to gain over 7% since this time on Sunday, it is still trading below $2.0, down over 90% from the peak reached in April 2018.

The coin is undermined by the reports of the network vulnerabilities to hack attacks and internal issues related to the degree of centralization and possible manipulations.

Looking technically, EOS/USD needs to gain ground above psychological $2.0 and $2.26 (SMA200, 1-hour). Once this immediate resistance area is cleared, the upside may be extended towards $3.00 and $3.74 (SMA200, 4-hour). However, considering the downward looking RSI and overall bearish sentiments on the market, a sustainable upside movement looks unlikely, at least in the short-term.

On the downside, the coin may retest the recent low of $1.5, which is the lowest level since November 2017. Once it is broken, $1.00 will come into focus. That’s where a fresh buying interest is likely to appear.

EOS/USD, 1-hour chart

Source: fxstreet

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EOS Price Notes Steep Gains as Value Approaches $2

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It has been a rather rough month of December for EOS. Although all currencies and assets lost tremendous value, EOS, in particular, suffered significant losses. It was not uncommon for the altcoin to drop by over 10% in a single day, whereas the market average was 5% or less. Things are not slowly picking up again, as the EOS price is well underway to hit $2 in the coming hours.

EOS Price Reversal Looks Promising

Every time a cryptocurrency or digital asset market rebound becomes apparent, one has to wonder how long the momentum will last this time around. This is especially true for altcoins, as they need Bitcoin’s momentum first and foremost. EOS Has not been an exception in this regard, and it seems unlikely that scenario will change in the near future.

Over the past 24 hours, there has been an interesting EOS price increase. Thanks to an 8% rise in the EOS/BTC value, the altcojn now sits at $1.95 again. That represents a net 14% increase in USD value in just a few hours. Compared to the steep drop-offs in the past few weeks, such a massive reversal shouldn’t come as a big surprise either.

It would appear tension on Twitter is rising where the EOS-related discussions are concerned. In fact, there is a genuine dispute between supporters of EOS and Tron right now. Both ecosystems take very different approaches and aren’t even rivals to one another. Even so, people will gladly try to tell everyone else why one is better than the other.

This “dispute” is also spilling over into a few other discussions between TRX and EOs supporters. Tarquin points out how TRX certainly has a real use and is destined to overtake both ES and Ethereum in terms of utility. That would certainly be something to behold, although one has to wonder whether or not all of these projects will succeed in the first place.

To put things in a different spotlight, it would appear EOS is one of the more active topics of discussion on Telegram. It joins a pretty impressive list which includes Bitcoin, Ethereum, Binance Coin, and Vechain. Surprisingly, EOS does not score that well in the “sentiment” rankings, albeit that is not necessarily a big surprise either.

As has been rather apparent, a Bitcoin price dip can be quite problematic for the EOS value as well. This problem is not unique to EOS by any means, although its rather big trading volume should be sufficient to keep the momentum going for some time to come. At the same time, markets can turn around in very quick succession, and tomorrow may be very different from today.

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