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EOS Price Analysis: Down 20%, Turns Sell On Rallies

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  • EOS price failed to hold the key $5.420 support area and declined heavily against the US Dollar.
  • The price is down more than 20% and it even broke the $4.800 support area.
  • There is a major bearish trend line forming with resistance near $5.620 on the 4-hours chart of the EOS/USD pair (data feed from Binance).
  • The pair could correct higher, but the $5.000 and $5.200 levels are likely to act as hurdles.

EOS price is currently under a lot of pressure against the US Dollar and bitcoin. The price may continue to decline and it could even test the $4.000 support in the near term.

EOS Price Analysis

This week, there a strong rise in bitcoin, but Ethereumripple, litecoin and EOS struggled against the US Dollar. EOS price mostly traded in a range below the $6.400 and $6.200 resistance levels. Recently, there was a sharp decline in BTC/USD below the $12,000 level, igniting sharp losses in altcoins. EOS declined more than 20% and broke many supports, including $5.800, $5.500 and $5.000.

Moreover, there was a break below a crucial contracting triangle with support near $5.700 on the 4-hours chart of the EOS/USD pair. The pair tumbled below the $5.000 support and the 55 simple moving average (4-hours). It even broke the $4.500 support and traded as low as $4.316 recently. At the outset, the price is retreating from the low and it could test the $4.700 resistance.

The 23.6% Fib retracement level of the downward move from the $6.193 high to $4.316 low is also near the $4.750 level to act as a resistance. On the upside, there are many hurdles for the bulls near the $5.000 and $5.200 levels. Moreover, there is a major bearish trend line forming with resistance near $5.620 on the same chart. The 50% Fib retracement level of the downward move from the $6.193 high to $4.316 low is also near the $5.254 to act as a strong barrier for the bulls.

On the downside, an initial support is near the $4.400 level, below which there is a risk of more losses below the $4.316 low. The next support is near the $4.200 level, followed by the key $4.000 support.

EOS Price Analysis Chart

Looking at the chart, EOS price is clearly under a lot of pressure below the $5.000 pivot level. If it fails to stay above the $4.400 level, there could be heavy losses in the near term.

Technical indicators

Hourly MACD – The MACD for EOS/USD is currently gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently well below the 25 level, with a bearish angle.

Major Support Levels – $4.400 and $4.200.

Major Resistance Levels – $5.000 and $5.200.

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EOS

EOS vs. Ethereum: Which One Should You Invest More?

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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.

THE ‘EOS TRADING ZONE’ ON COINCOLA

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.

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EOS

EOS Price Prediction Today: Daily (EOS) Value Forecast – July 17

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  • 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./

Source:bitcoinexchangeguide

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EOS Price Prediction: Down 40% In 7 Days, Upsides Remain Capped

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EOS price declined significantly after it failed to break the $6.200 resistance area. It traded as low as $3.302 and it is currently correcting higher towards the $3.850 and $4.000 resistance levels.

  • EOS price declined heavily below the $5.560 and $5.200 support levels.
  • A major bearish trend line is forming with resistance near $4.000 on the 2-hours chart.
  • The price is likely to struggle near the $4.000 and $4.100 resistance levels in the near term.

EOS Price Analysis and Prediction

In the past few days, there were heavy losses in bitcoin, Ethereum, ripple and EOS against the US Dollar. EOS price started a significant decline after it broke the $5.800 and $5.560 support levels and is down more than 40% in the past seven days.

EOS Price Analysis and Prediction

Click to Enlarge Chart

Looking at the 2-hours chart of EOS/USD, the pair even broke the $5.000 support level and settled below the 25 simple moving average (2-hours). The decline was such that the price even spiked below the $4.000 support level.

A new multi-month low was formed near $3.302 and the price recently started an upside correction. It broke the $3.500 level plus the 23.6% Fib retracement level of the last drop from the $4.413 high to $3.302 low.

However, there are many hurdles on the upside near the $3.850 and $3.900 levels. Moreover, there is a major bearish trend line is forming with resistance near $4.000 on the same chart.

Additionally, the 50% Fib retracement level of the last drop from the $4.413 high to $3.302 low is also near the $3.850 level to act as a resistance. The main resistance is near the $4.000 handle and the 25 simple moving average (2-hours).

Therefore, if there is an upside break above the $3.850 and $4.000 levels, there could be a decent rise in the coming sessions. The next key resistance could be near the $4.675 and the $4.800 levels.

On the other hand, if EOS price fails to surpass the $3.850 and $3.900 resistance levels, there could be another drop towards the $3.300 level. The price may even break the $3.300 low and test $3.000.

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