The falling of 2018 pushed me to think about cleaning my crypto watch list. There are thousands of coins, and of course, probably 99% of them are useless for trading or investing. It's time to clean the list from such markets!
This time, let's talk about EOS. The market looked very interesting in 2017 and had great potential. What we have now?
If we use swing highs and lows for trend direction, EOS confirmed the reversal of the bearish trend. The same goes about using MA with period 100. The market became bullish and gave several opportunities to join a new uptrend.
If we talk about higher timeframes, the market stays bearish and the upward movement it is a correction. Also if you use MA with bigger period like 200, for you the market remains bearish, and now the price is at the important resistance zone formed by SMA200 and 4.500 level. The market bounced from this zone, and we should expect for a downward movement. The market can fall to the support zone formed by the uptrend and 3.00 support level. In this zone, reversal signals will be perfect for buying.
Indicators: - RSI confirmed the price reversal from the resistance zone - MACD histogram and lines support the downward movement - DMI is bullish but ADX line falls confirming the correction in trend market.
From TA the market bounced from the bottom and confirmed the reversal of the bearish trend. We have possible entry zones based on the reversal signals from the uptrend line or the breakout signal above the local swing high and the resistance zone - this type of signals will be good only for long term trading.
But what do you think about EOS from FA and perspectives to become a valuable market? Should it be left in the watch list? Do you believe that ATH will be reached again? Please, share your ideas about this market in comments!
If you like this post, please, support it by your LIKEs! More LIKEs for this post, more trading ideas, market overviews will be published about altcoins.
I think EOS is still worth keeping in our portfolio. It's a one of a kind project where transactions are free but you need to pay a one time registration fee to allocate RAM in order to open a new account. It's arguably one of the fastest blockchains in the market currently. Yes, there is a centralization effect due to how the BPs are elected and how they are able to stay in power by collusion voting.
My argument is that not every project is going to do things the same way as Ethereum which aims to never sacrifice decentralization for security. Dapps which need speed and less security can easily make use of something like EOS and no other project currently fills that gap. Apps on EOS are also user-friendly due to the fact that transactions have almost no wait time which makes execution seamless.
If I were to only hold 10 coins in the my portfolio, EOS would definitely be one of those. Not many projects out there have a strong marketing team like EOS which as we know is of paramount importance to stay relevant in crypto. They also have a $4 billion warchest to support development from for decades to come. Can't say that about any other project.
EOSBTC and EOSUSD are extremely correlated with Bitcoin. If Bitcoin pumps it should pump too. Ta looks good like you showed but about EOS FA they are not best but in the end nobody cares much. Btw give me a follow :)
DLavrov
⋅
@Dude56, I should tell that ALL altcoins are correlated with BTC. That's why from diversification point of view - crypto is not the best market for spliting risks.
Dude56
⋅
@DLavrov, that's true but some of them are more or less correlated. I am not throwing random words. I calculated using CORREL. You must know it since you are here for some time.
Even in this market you would be surprised that some things are not that correlated if you check well. But overall it's true pretty much everything is. Just make sure you know that EOS is one of the most correlated
table001
⋅
I think the only no nonsense coin out there is ETH
First of all this present way of market manipulations has to come to an end by means of a big crash.
After the crash the serious coins will remain and no longer follow bitcoin price.
JB012
⋅
Are you able to tell us your thoughts on PPT?
DLavrov
⋅
@JB012, i will look at it and if there is something interesting to tell, I will do it.
My argument is that not every project is going to do things the same way as Ethereum which aims to never sacrifice decentralization for security. Dapps which need speed and less security can easily make use of something like EOS and no other project currently fills that gap. Apps on EOS are also user-friendly due to the fact that transactions have almost no wait time which makes execution seamless.
If I were to only hold 10 coins in the my portfolio, EOS would definitely be one of those. Not many projects out there have a strong marketing team like EOS which as we know is of paramount importance to stay relevant in crypto. They also have a $4 billion warchest to support development from for decades to come. Can't say that about any other project.