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EOS Daily Price Forecast – December 14

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EOS/USD Medium-term Trend: Bearish

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

Yesterday, December 13, the price of EOS was in a bearish trend. The cryptocurrency reached the high of $2.09 while in a bullish trend zone but faced resistance at the $2.0 price level. The crypto fell from its recent high and it is hovering above the 12-day EMA and the 26-day EMA.

Yesterday, the bears broke the 12-day EMA, the 26-day EMA and fell to the low of $ 1.87. However, the price of EOS is likely to fall again as it is under the bearish trend zone. Meanwhile, the price is EOS is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a sell signal.

EOS/USD Short-term Trend: Bearish

On the 1-hour chart, the price of EOS is in a bearish trend. The price of EOS was ranging at a price of $1.9 before the bearish breakout. The 12-day EMA and the 26-day EMA were horizontally flat. On December 13, the bears broke the 12-day EMA, the 26-day EMA and fell to the low of $1.87. Currently, the crypto is ranging above the $1.87 price level.

However, the crypto’s price will fall again if the price is in the bearish trend zone. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is the bearish trend zone. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

Source: Bitcoin Exchange Guide

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EOS Price Remains Afloat as EOS/BTC Notes Solid Gains

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The big question of the day is if and when the top cryptocurrency markets will show any signs of recovery So far, the wait seems far from over, as the hourly candles continue to look more bearish than usual. No market in the top 15 is noting gains except for the EOS price. While the uptrend is minimal at best, the market still clings to these small gains like there is no tomorrow.

TRADERS EXPECT THE EOS PRICE TO PULL BACK

When the top cryptocurrencies remain bearish for nearly two full days in a row, a lot of unrest is triggered among investors and speculators. That is a rather normal turn of events, as the current outlook is anything but positive. For EOS, the current pressure is bothersome as well, albeit not necessarily definitive. It is one of the few markets to note an uptrend in BTC value, which is rather remarkable.

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Over the past 24 hours, the EOS price has risen by 0.17% to $3.65. This has proven to be a solid support level, although a minor pullback seems all but inevitable at this time. What is more intriguing is how EOS/BTC went up by 1.88% during this latest bearish trend. With a value of 92.625 Satoshi, it would appear EOS is doing a lot better than most alternative markets available today.

Although there seemingly isn’t much to get excited about, keeping tabs on the latest EOS developments is always a good idea. The latest edition of EOS Echo offers a lot of information, ranging from Eosfinex to Loom Network and Bancor’s new unified wallet. It is a good source for weekly updates and developments, as there seems to be a lot going on behind the scenes of this project.

Looking beyond the news, it seems traders are not too confident where this current price trend is concerned. CryptoNail expects a major resistance level to drive down the EOS value in the hours to come. While EOS is not necessarily following Bitcoin’s price pattern by any means, it is only normal some correlation will occur sooner or later.

A very similar bearish outlook is shared by Nico, who expects a somewhat interesting price shift to occur fairly soon. Although there are some bullish signs, Bitcoin is leading this dance one way or another. As such, it is only normal caution is warranted at this time, primarily because Bitcoin’s momentum remains uncertain and indecisive. Changing that scenario will not necessarily happen overnight, by the look of things

For the time being, it remains to be seen if this EOS/BTC ratio can be sustained or even improved upon further. I that is not the case, the USD losses will become apparent fairly quickly, as Bitcoin looks to drop even further overnight. An EOS value of $3.5 or lower seems rather unlikely, although it will primarily depend on whether the $3.6 level can act as solid support.

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Tron [TRX] DApp Weekly report: Justin Sun’s cryptocurrency lays down claims that Tron is better than Ethereum and EOS

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Tron [TRX] has captured multiple headlines in the cryptoverse due to its partnerships and tie-ups with major stablecoins like Tether. Another major factor in Tron’s pump has been its rampant DApp development mainly targeted at beating its competition like Ethereum [ETH] and EOS.

In the latest DApp Weekly report released by Tron, the company stated that Tron’s DApp trading volume stood at the top among all public chains. The report focused on the reason why the Tron public chain can beat ETH and EOS. Tron claimed that it had a lower entry bar for users as compared to EOS. This included the registration process, or the extension wallet experience, which according to Tron has “been made more user-friendly”. The report added:

“Both development cost and user fee on Tron are low. Low development cost is needless to say. Developers need to freeze tokens to get the resources needed for app development and the cost on Tron is much lower than that on EOS. In the meantime, Tron offers free bandwidth and energy to users, and the resources are renewed each day. Comparatively speaking, Tron’s user fee is significantly lower as well.”

Tron’s DApp UX report also added:

“The first DApp to introduce this week is Tronshot, a basketball shooting game on Tron. Moving on, the team will upgrade Tronshot to a 3D 2.0 version. Apart from providing, the 3D experience , features like PvP interactions and props will also be added.”

The Foundation’s efforts to battle Ethereum and EOS was made evident again when the report stated that the Tron’s 2.17 million accounts, were 3 times more than that of EOS. The DAU of Tron DApps remains at 60,000 which is 5 times more than Ethereum’s.

The Justin Sun led company considers partnerships as a key component in its development and went on to speak about its team-up with Coincodex and the launch of a Tron-dedicated section on its homepage, which includes the TRX.Market, Tron ICO and Tron DApp.

Tron and Justin Sun’s direct attacks on Ethereum and in turn its co-founder Vitalik Buterin received another twist when Buterin claimed that he will lose a certain amount of hope for humanity if Tron overtook Ethereum.

Source. ambcrypto.

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EOS Steps Forward Steadily, After its Successful ICO

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EOS is an operating system which runs on blockchain technology and hence is decentralized at its core. It is designed to provide commercial level scalability to decentralized apps. Facilities provided by EOS enables businesses to build their own blockchain applications which are similar to web-based apps.

EOS has got a celebrity-like status since its introduction to the market. It entered with a successful ICO, and the news of its mainnet caused a positive growth in the value of EOS. Considering its success and growth, EOS wants to maintain a positive trend and hence is planning to cancel transaction fees.

EOS Development

In 2017, November Block. one introduced a public testing ecosystem, known as EOSIO. It is a Single-Threaded Application Testnet (STAT). After the testnet, EOS launched the entire plan in the same year in its whitepaper. This EOSIO was released as an open source program last year.

Block.one sold a billion of tokens at the time of the launch to make sure that the native tokens are widely distributed. Block.one sold these billions of coins on the Ethereum platform. This blockchain facilitates its users with a distribution network which can be used by all who own the token. It will be possible once the EOS blockchain program is made live.

Of all the tokens sold, 10% are reserved for Block.one. In the first five days of launch, 20% EOS tokens were sold on Ethereum. Remaining 70% of the tokens will be sold and produced at market value. Many critics of the crypto and blockchain commented on this, however, despite it, EOS ICO managed to raise $170 million in the first step.

Presently, EOS is the crucial fifth cryptocurrency of the world in terms of market capitalization. The progress continues in the case of EOS, as it is aiming to get a better position in the market by cap value. EOS comes with incentives, decentralized storage, and high bandwidth. In its first ICO, the platform successfully raised over $4 billion.

As per the CEO fo LiquidApps,

“Blockchains today don’t yet scale. EOS which has solved many issues on the transaction speed side still have resource limitations, which are critical for the extensive dApp developer that is so needed for users adoption.”

Peter Todd has expressed his thoughts on the feature like scalability of EOS by sharing that EOS consistently has been built to be disastrous.

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