- EOS/USD is capped by DMA200.
- Hacker created a fake transaction and pushed in into EOS network.
EOS/USD is changing hands at $3.68. The coin takes the fifth place in cryptocurrency rating compiled by CoinMarketCap. The coin topped at $4.53 at the end of February and quickly returned to the area below $4.0 (DMA200).
Looking technically, we will need to see a sustainable move back above $4.0 handle for the recovery to gain traction. The next long-term target is seen at congestion zone $5.00 and $6.6 (SMA50, weekly chart). On the downside, watch out for $3.00 (DMA50) and $2.77 (DMA100).
Meanwhile, the rumors about EOS whales withdrew 1M coins proved to be fake. According to the Whale Alert, the large fake transaction was created by a user under «fuckhacker.x» nickname. The hacker used a delayed transaction feature to cheat algorithms and push fake transaction to the network before it was spotted and deleted.
“This was a deferred transaction. The trx that creates the deferred trx can only determine whether the create request was submitted successfully or whether it failed. Once broadcast it is subject to normal validity checks,” that’s the explanation provided by EOS NewYork Block Producer.
EOS is not the only victim of fake transactions. Similar transactions worth of billions of XML tokens were registered on Stellar network on November 2018.
EOS/USD, daily chart
$71 Million: Galaxy Digital Sells Stake in EOS Blockchain Maker Block.One
Galaxy Digital, the crypto merchant bank founded by former hedge fund manager Michael Novogratz, has received $71.2 million after selling its shares in, the maker of the EOS blockchain.
Galaxy Digital said in an announcement on May 21 that it closed the transaction on Monday after a tender offer for its position inwas made on April 18. The firm claims it made a 123 percent return on the realized investment and following the transaction, its remaining shares in “will no longer maintain a material investment position.”
“The acceptance oftender offer reflected a decision to rebalance the portfolio to maintain an appropriate level of diversification after the position increased due to its substantial outperformance relative to the remainder of the portfolio,” Novogratz said in the release.
Galaxy Digital added it will still partner withon other businesses such as the Galaxy EOS VC Fund, which primarily backs startups that are developing applications on the EOS blockchain network. Galaxy Digital and entered a joint venture in January 2018 to launch the EOSIO Ecosystem Fund with $325 million.
In July of last year,received investment from a number of big-name investors such as PayPal co-founder Peter Thiel and Bitmain co-founder Jihan Wu.
Galaxy Digital’s exit comes as part ofbuyback program of 10 percent of its company shares.
According to a report from Bloomberg on Wednesday,buyback offer values itself at around $2.3 billion, up nearly 66 times from what it was valued at in a 2017 seed funding round. The repurchase price for the buyback is around $1,500 per share. It was offered at $22.5 per share during the 2017 round.
The report added thathad about $3 billion in assets including cash and investments at the end of February, based on a March 19 email sent to shareholders and seen by the news outlet. is also holding as many as 140,000 bitcoin, the report further said.
EOS (EOS) Predictions: Is the Downfall of EOS Over or Bear has More Plans?
EOS cryptocurrency is backed by blockchain technology and supported by EOS.IO protocol. The specialty of this protocol is it imitates major features and attributes of a real computer and its components like CPU and GPU. EOS cryptocurrency works on a smart contract platform and its decentralization what helps the users to have complete control on the transactions and anonymity. This platform aims to facilitate transactions on a minimum cost and less turnaround time.
EOS coin is the 6th largest coin in the global crypto market with an ROI of 360.26%. A total of 944,040,817 EOS coins are in supply. The current market cap as on 2nd May at 04:44 UTC is 4,480,487,563 USD. The value of each coin stands at 4.75 USD and 0.00087936 BTC. The 24h volume at the same UTC is 1,564,267,107 USD. The coin’s all-time high was on April 29th at 22.89 USD.
EOS coin was being traded around 2.5 USD at the onset of 2019. However, it managed to get a good growth over the last 4 months. The lowest point for EOS was on 29th January at 2.25 USD. There have been certain cases of steep ups and downs for EOS as well. On the last week of February, it managed to grow by 80% in just 3 days. But the major growth was achieved after 1st April boom. It managed to get and sustain 50% growth in just 4 days’ time. The current status of the coin is affected by price correction. The market cap on 2ndApril was 4,178,390,871 USD, and the value of each coin was 4.61 USD. The market cap as well the value in USD has increased by almost 3.03% in these 30 days.
The 1-day growth graph is volatile to the core. Speculators will be harmed by this movement easily. In the last 24 hours, there were 6 major price variations. The range of the coin was 4.82 USD to 4.73 USD.
The value will be a little lower than the current one in a few weeks, as per our prediction. It will go to 3.8 USD in the coming two weeks. After this downfall, the coin will rise to 5 USD after facing one restriction at the same price. The 2019 prediction goes with 7 USD level.
EOS could reach double digits soon: Can we easily break $7 resistance?
The altcoin market is looking healthy after a nice green day across the board, with most alts now retracing and finding support. EOS is currently resting on major support near $6. What does EOS have in store for us?
– Double digits EOS on the way?
– EOS finding support
– Need to break $7 resistance
Diving straight into the 3h chart we see that EOS is resting on its higher timeframe support of $6. This is also local support since $6 is the highs from April. Looking at our momentum indicators, the RSI and Stoch RSI shows us that this downwards move might be nearing its end.
RSI is above 40 sitting at a value of 46, which indicates we are are still bullish. We also have Stoch RSI confirming that we are nearing the floor of this retracement with it trading below the 20 line. It’s very much possible that we rest here for a day before it continues to move higher. And once we clear the $7 resistance zone is when we can expect EOS to move to double digits.
EOS/USD chart provided by Tradingview
Over at the daily chart we get a better view of the bigger picture. We notice that EOS has already broken past the 200EMA and made it’s way back to it to declare $4.5 as support. Since we made another push away from the 200EMA and broke the next resistance at $6 shows us that the chart is bullish. With EOS now finding support on the lower time frames we should definitely keep an eye on it.
EOS/USD chart provided by Tradingview
EOS finding support
Lastly, if we look at the hourly chart we get a clearer picture of current movements. EOS has found support at the 200EMA which is also our $6 support zone, confirming that we have support here. Looking at RSI we see that it’s briefly visiting below the 50 line. Usually when RSI is below 50 is when we see downwards movement, but in this case, it’s a bit different.
Since RSI has mostly been holding above 50 this past few days we can assume that the norm is currently for the price to move up. We notice that RSI suddenly moved below 50 and made its way to the 30 line, showing us that the current price action is out of the norm, and that we should return to the norm anytime soon. As soon as RSI pushes back above 50 is when we can expect to see new local highs as we make our way to $10.
EOS/USD chart provided by Tradingview
Crypto is thriving again with most coins already providing large % gains. While we wait for Bitcoin to find support, we will continue to look at alts for possible moves. EOS seems to be an interesting choice, can we break $7 and run for double digits? Let us know your thoughts in the comments below!
Disclaimer: Keep in mind this not investment or trading advice, just the opinion of our analysts. As always, do your own research, make your own decisions.