Hi Traders!
The year 2020 could be described from the point of view of cryptocurrencies as a record one. Bitcoin exceeded its previous maximum and other cryptocurrencies also began to grow rapidly. We are following the growing trend at Ethereum, Cardano, Litecoin, Monero and others. But what happens to EOS?
If we take a look at the EOS chart, we do not see any uptrend. We observe the movement to the side and the zone in which the EOS is still moving. It has risen after the March (COVID) slump but is still unable to break through key resistance. It was very close in the last few days, but last week there was news that EOS had lost his CTO Daniel Larimer. The price fell down again. Of course, this report is not as fatal as, for example, the SEC lawsuit against Ripple.
In trading, as long as we keep support between USD 2.22 - 2.39, it's fine. At this value, we would consider buying and selling at a resistance of USD 3.85 - 4.01. This movement would represent an evaluation of 60%. We would consider the uptrend to overcome at the mentioned resistance. Until that happens, we cannot expect significant changes.
From the fundamentals point of view, there is currently quite silence around EOS, which also does not help its price. In the ranking on CoinMarketCap, this cryptocurrency is still declining. We still consider EOS to be a relatively large cryptocurrency, but we expect an impulse that will trigger price growth and investor interest.
May the crypto be with you!
The year 2020 could be described from the point of view of cryptocurrencies as a record one. Bitcoin exceeded its previous maximum and other cryptocurrencies also began to grow rapidly. We are following the growing trend at Ethereum, Cardano, Litecoin, Monero and others. But what happens to EOS?
If we take a look at the EOS chart, we do not see any uptrend. We observe the movement to the side and the zone in which the EOS is still moving. It has risen after the March (COVID) slump but is still unable to break through key resistance. It was very close in the last few days, but last week there was news that EOS had lost his CTO Daniel Larimer. The price fell down again. Of course, this report is not as fatal as, for example, the SEC lawsuit against Ripple.
In trading, as long as we keep support between USD 2.22 - 2.39, it's fine. At this value, we would consider buying and selling at a resistance of USD 3.85 - 4.01. This movement would represent an evaluation of 60%. We would consider the uptrend to overcome at the mentioned resistance. Until that happens, we cannot expect significant changes.
From the fundamentals point of view, there is currently quite silence around EOS, which also does not help its price. In the ranking on CoinMarketCap, this cryptocurrency is still declining. We still consider EOS to be a relatively large cryptocurrency, but we expect an impulse that will trigger price growth and investor interest.
May the crypto be with you!