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
EOS price analysis: EOS/USD bulls strengthen their grip
- EOS has potential to trend towards $5.0 in the near if technical levels stay intact.
- EOS is likely to consolidate above $4.0 in the short-term.
EOS is rising in value during the weekend European session. The upward correction is welcome following the recent dip to $3.30. The last couple of days have seen the buyers fight tooth and nail to come out of the bear range.
The initial jump above the 50 Simple Moving Average (SMA) 1-h resistance gave the price a kick in an engulfing candlestick. EOS/USD stepped above $4.00 but corrected under the moving averages before finding support at $3.8. At the time of writing, EOS has recovered past the 50 SMA resistance and is exchanging hands a $4.20.
Also Read: Bitcoin market update: BTC/USD bulls too timid to launch an assault on $11,000
The hourly chart shows EOS having the potential for further growth towards $5.0. The Moving Average Convergence Divergence (MACD) is trending upwards. The increasing divergence north is a signal for more buying positions. The 50 SMA having jumped above the longer-term 100 SMA is a key indicator for greater bullish influence and that EOS is likely to consolidate above $4.0.
However, the traders must be on the look for the Relative Strength Index which is currently ranging at 70. This could mean that the bulls are getting exhausted and in the near-term a correction back to the support at $4.0 and $3.8 is likely.
EOS/USD 1-h chart
EOS vs. Ethereum: Which One Should You Invest More?
There are several cryptocurrencies in the market, and each has a unique selling proposition which makes it stand out from the rest. Every platform wants to outperform the other in terms of what they have to offer, and the Ethereum and EOS platform are not different as the competition between them is very fierce.
Ethereum needs no introduction in the cryptocurrency community as it’s the closest rival to Bitcoin, and the platform was the first to offer smart contracts. Ethereum and its token have gained wide acceptance and has increased in popularity over the years due to this unique feature.
Thanks to this, Ethereum is regarded as the 2nd generation of Blockchain tech. EOS is relatively new to the market as it was launched some few years back, but to the surprise of many, the platform has also carved a niche for itself and is looking to usurp Ethereum in the near future.
What does the future hold for these two cryptocurrencies?
THINGS TO KNOW BEFORE YOU INVEST IN ETHEREUM OR EOS
One thing that’s certain in the crypto verse is that nobody knows what the future holds. But it’s possible to determine the possibility for a platform to grow.
In 2017, Ethereum was the only platform that offered smart contracts and several ICO’s launched their platforms on Ethereum’s Blockchain. The tokens created on this Ethereum’s blockchain are still functioning till date with a powerful community backing it.
This move went a long way to ensure price stability for Ethereum and some organizations like Uber and Airbnb have built some Dapps on Ethereum’s test net while others are planning to follow suit.
Some people believe the team behind the project have a huge announcement to make soon as they’ve earmarked a princely sum of $1 billion for marketing purposes only. Some believe they’re waiting to see a strong bullish trend in the crypto market before they make their announcement and to kick start the promotion of their network.
Currently, the price of Ethereum hovers within the region of $228 to 1 ETH while it’s competitor EOS is within the region of $4 USD to 1 ETH. Ethereum is currently the 2 cryptocurrency on the list of top 10 crypto’s according to market capitalization while EOS stands at the 5th position.
EOS has a huge task on its hands in their quest to beat Ethereum by offering better services that would lure developers to their platform. From the look of things, EOS might just pull this off as the technical specifications of EOS is quite better than what Ethereum offers but the adoption of the crypto is not as high as Ethereum.
For some, Ethereum is considered as the 2nd generation of Blockchain and it comes with an extra use case which is the smart contract. Ethereum successfully solved the scalability issues that plagued Bitcoin but surprisingly, technology is evolving at a rapid pace and EOS took advantage of that.
The EOS blockchain on the other hand is easier to own as a resource for prospective developers and project planners as they can predict what a project will cost which Ethereum does not offer.
After Bitcoin, Ethereum is the 2nd most trusted platform, while EOS is still new with a growing community backing it, they still have a lot to prove but from the little they’ve being able to achieve within such a short period of time, it seems they can dethrone Ethereum if they do not veer off course. So I’ll put my stake on EOS, because they’re on course to achieve something that’s not easy for newbies to achieve
PRICE PREDICTION OF ETHEREUM AND EOS
The growth of EOS this year has been impressive as it peaked at $8 rising from a shocking $2. From the look of things, it may get to double digits as the year progresses if the bullish trend in the crypto market continues, so EOS is likely to end on a high this year. On the other hand, Ethereum is not lagging far behind as it’s also riding the bullish wave that BTC is enjoying as it crossed the $300 threshold last month but has now dropped to $228 rising from $150 at the start of the year.
With this information in mind, the next question is where to buy these cryptos for prospective clients who may wish to hold or trade them. Coincola OTC Bitcoin trading platform is the perfect place for people who may want to start their foray into the crypto world. On Coincola, users can buy EOS, ETH, Bitcoin, and several other cryptos with several currencies like the US dollar, the British Pound, Euro, and several other supported currencies. That’s not all, they also support buying and exchanging of crypto with gift cards like iTunes gift cards, Amazon gift cards and lots more.
Their interface is easy to use and anyone can buy ETH or EOS and start trading in minutes. For those who wish to just hold their assets, they can rest assured that Coincola has world-class security that ensures hackers or anyone with malicious intent do not have access to their assets or data.
EOS Price Prediction Today: Daily (EOS) Value Forecast – July 17
- On the upside, if the $3.60 support level holds, the crypto’s price will rise and break above the EMAs.
- On the downside, if the bears break the $3.60 support level, the coin will further depreciate to a low at $3.0 price level.
EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 6.50, $7.00, $7.50.
- Support levels: $5.00, $4.50, $4.00.
Yesterday, July 16, the price of EOS was in a bearish trend. The EOS market fell to the previous low of March 8. Yesterday, the market fell to the low of $3.60 price level and the support level was holding. On the upside, if the $3.60 support level holds, the crypto’s price will rise and break above the EMAs.
On the downside, if the bears break the $3.60 support level, the coin will further depreciate to a low at $3.0 price level. Meanwhile, the price of the EOS market is in the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southwardly. On July 16, the bears broke the EMAs and price fell to a low at $3.60 price level./