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EOS Price Analysis #9 – EOS Needs To Break $3.90 To Resume 33% Monthly Price Surge

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EOS Continues to hold strongly above $3.60 as the market gears up again to break above $4.00. The market has now seen a small 1.20% price increase over the past 24 hours of trading bringing the current coin price up to $3.60. The cryptocurrency has now seen a 33% price hike over the past 30 days with a further 84% price surge over the past 90 days.

Where Is EOS ranked?

EOS is now ranked in 5th position as it currently holds a $3.32 billion market cap valuation. The 20 month old project is trading at a value that is 82% lower than its all time high price.

Let us take a look at the EOS/USD market and highlight some potentail areas of support and resistnace moving forward.

EOS Price Analysis

EOS/USD

EOS/USD – MEDIUM TERM – DAILY CHART

EOS Price Analysis
https://www.tradingview.com/x/Vs41xGQM/

What has happened since our last analysis?

Since our last EOS/USD analysis, we can see that the market had managed to break above the resistance around the $3.70 area but failed to break higher above the $3.90 level. Price action is now trading at the support provided by the short term .382 Fibonacci Retracement level priced at $3.63.

What is the current short term trend?

The current trend of the market is presently neutral. For this market to be considered bullish, we would need to see price action break above the resistance at $4.50. If EOS/USD was to fall underneath $3.25 then the market would be rendered as bearish.

Where are we likely to from here?

IF the buyers can muster up the momentum to break above the resistance at $3.90 we can expect immediate higher resistance above to be located at $4.00. Above $4.00 we can expect more resistance to be located at the bearish .618 Fibonacci Retracement level (drawn in red) priced at $4.20 followed with resistance at $4.82. This is then immediately followed with resistance at the bearish .786 Fibonacci Retracement level (drawn in red) priced at $4.93.

If the bulls can continue to climb above $5.00, higher resistance is then located at the short term 1.272 and 1.414 Fibonacci Extension levels (drawn in yellow) priced at $5.16 and $5.50, respectively.

What if the bears regain control?

Alternatively, if the sellers regroup and begin to push the market beneath the support at $3.63, we can expect immediate further support beneath to be located at the short term .5 Fibonacci Retracement level (drawn in blue) priced at $3.35. This support is further bolstered by the 100 day moving average which hovers at the same level.

Support beneath $3.35 can be expected at the .618 Fibonacci Retracement level (drawn in blue) priced at $3.08.

What are the technical indicators showing?

The RSI is currently trading along the 50 level which shows indecision within the market. If we would like to see EOS rise and break above the $4.00 level, we would need to see the RSI rise up away from the 50 level.

Price action is also trading above the 100 day moving average which is a bullish sign for EOS.

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EOS Price Doesn’t Budge as EOSFinex Beta Release Draws Near

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As the top markets continue to struggle for any real traction, it quickly becomes apparent today will not be the best of days for most currencies. The EOS price, while looking somewhat promising on the hourly chart, has yet to overcome a few hurdles along the way. For the time being, this market falls victim to the same bearish pressure as all other top cryptocurrencies. Not the trend traders had hoped for, but the ship can be turned around with too many problems.

EOS Price Shows Some Signs of Promise

It is evident the current cryptocurrency market trend is not too promising for most of the top markets. That is not entirely abnormal, as nearly everything in the top 15 will follow Bitcoin’s lead when it comes to price changes. EOS is a dutiful follower in this regard, even though holders and traders had expected something entirely different. Bucking the pressure will not be easy by any means, but it is not impossible either.

Over the past 24 hours, the EOS price has reduced by 1.54% in USD value, bringing the price down to $3.67. There is also a smaller EOS/BTC downtrend with a 0.62% loss. Because of this second development, the current value sits at 90,736 Satoshi. Neither of these trends is exactly beneficial to EOS, but it seems the EOS/BTC losses can be offset without too many problems. The current trading volume is also interesting, as it sits at $1.663bn.

There are quite a few interesting EOS-related developments on the horizon, by the look of things. First of all, the EOSFinex platform has gotten closer to being released. It is expected a beta will become accessible in the next few weeks to come, That in itself will bring some positive attention to the platform itself, as well as the EOS currency in its own right  Whether or not it can impact the EOS value in any way, is a different manner.

There is also some community excitement regarding the EOS World Expo. It is a good example of how this ecosystem continues to grow. According to the official Twitter account, there is a growing list of apps and attendees to keep an eye on. Additionally, there may be multiple announcements in the coming weeks, although no further details have been provided in this regard. An interesting future lies ahead either way, although no price impact is expected at this time either.
When looking at the bigger picture, it quickly becomes apparent things are looking neither bad nor good for EOS at this time. If the EOS/BTC can be overcome without too many problems, there is a good chance the situation will improve sooner rather than later. A push to $3.75 would certainly become plausible at that time, although no one can accurately predict how things will evolve in the coming hours, especially with the weekend right around the corner.
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EOS

EOS Price Doesn’t Budge as EOSFinex Beta Release Draws Near

Published

on

As the top markets continue to struggle for any real traction, it quickly becomes apparent today will not be the best of days for most currencies. The EOS price, while looking somewhat promising on the hourly chart, has yet to overcome a few hurdles along the way. For the time being, this market falls victim to the same bearish pressure as all other top cryptocurrencies. Not the trend traders had hoped for, but the ship can be turned around with too many problems.

EOS Price Shows Some Signs of Promise

It is evident the current cryptocurrency market trend is not too promising for most of the top markets. That is not entirely abnormal, as nearly everything in the top 15 will follow Bitcoin’s lead when it comes to price changes. EOS is a dutiful follower in this regard, even though holders and traders had expected something entirely different. Bucking the pressure will not be easy by any means, but it is not impossible either.

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Over the past 24 hours, the EOS price has reduced by 1.54% in USD value, bringing the price down to $3.67. There is also a smaller EOS/BTC downtrend with a 0.62% loss. Because of this second development, the current value sits at 90,736 Satoshi. Neither of these trends is exactly beneficial to EOS, but it seems the EOS/BTC losses can be offset without too many problems. The current trading volume is also interesting, as it sits at $1.663bn.

There are quite a few interesting EOS-related developments on the horizon, by the look of things. First of all, the EOSFinex platform has gotten closer to being released. It is expected a beta will become accessible in the next few weeks to come, That in itself will bring some positive attention to the platform itself, as well as the EOS currency in its own right  Whether or not it can impact the EOS value in any way, is a different manner.

There is also some community excitement regarding the EOS World Expo. It is a good example of how this ecosystem continues to grow. According to the official Twitter account, there is a growing list of apps and attendees to keep an eye on. Additionally, there may be multiple announcements in the coming weeks, although no further details have been provided in this regard. An interesting future lies ahead either way, although no price impact is expected at this time either.

The recently issued “rankings” of blockchain ecosystems released by the CCID continues to spark many different discussions. There are plenty of people who consider EOS and Tron to be on the same level, even though the CCID has a very different opinion. EOS is favored for its creativity and basic tech, whereas Tron seemingly has better applicability. Rest assured these rankings will continue to shift around quite regularly in the months to come.

When looking at the bigger picture, it quickly becomes apparent things are looking neither bad nor good for EOS at this time. If the EOS/BTC can be overcome without too many problems, there is a good chance the situation will improve sooner rather than later. A push to $3.75 would certainly become plausible at that time, although no one can accurately predict how things will evolve in the coming hours, especially with the weekend right around the corner.

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EOS Price Prediction Today: Daily (EOS) Value Forecast – March 21

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  • Presently, the crypto’s price is facing resistance at the $3.8000 price level. All the price bars are ranging below the $3.8000 price level.
  • On the upside, the bulls must break above the $3.8000 resistance level for the crypto’s price to reach the previous highs.

EOS/USD Medium-term Trend: Ranging

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

Yesterday, March 20, the price of EOS was in a sideways trend. The 12-day EMA and the 26-day EMA were trending horizontally indicating the sideways trend. The crypto’s price is ranging at the $3.78 price level. Presently, the crypto’s price is facing resistance at the $3.8000 price level. All the price bars are ranging below the $3.8000 price level.

On the upside, the bulls must break above the $3.8000 resistance level for the crypto’s price to reach the previous highs. On the other hand, if the bulls fail to break above a resistance level, the price of EOS will resume its range bound movement. Meanwhile, the stochastic is in the overbought region but above the 60% range. This indicates that the price of EOS is in a bullish momentum and a buy signal.

EOS/USD Short-term Trend: Ranging

On the 1-hour chart, the price of EOS was in a sideways trend. Yesterday, the bulls broke the EMAs, and tested the $3.8043 resistance level. The bears broke below the EMAs as the price fell to the bearish trend zone.

The bulls tested the $3.8000 price twice and were resisted. The crypto’s price has fallen into the bearish trend zone. Also, the stochastic is out of the overbought region but below the 60% range. This indicates that the price of EOS is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Source.bitcoinexchangeguide

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