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- EOS price is showing bullish move with a gain of 1.2% in 24 hour time frame. Meanwhile EOS/BTC is seeing a bearish move with a loss of 0.21%.
- Technical Indicators of EOS is showing a bullish move. EOS is seeing a decrease in futures long in the 4 hr time frame.
EOS price forecast a gain of 11.5% in upcoming trading sessions.EOS has seen a gain of 45% from the start of this year. The Perpetual swaps shorts are increasing in the exchanges. The ratio between the longs and shorts in the overall exchanges is 0.98. It tells that the people are bearish on EOS. According to Bybt.com, most swaps orders are placed in Binance and BitMEX exchange which is 44.4% of the total order. It tells that the investor is bearish on the EOS. The only exchange which has a negative funding rate is FTX on EOS swaps.
EOS is ranked 30 with a market capitalization of $3,892,158,388.The volume of EOS($1,983,262,436) has seen a loss of 28.92%. The volume to market capitalization ratio for the coin is 0.542, if it crosses above 0.8 then a buying rush can be observed.
Technical Indicators Hints A Bullish Move For EOS Price Forecast
The weekly chart of EOS highlights a bearish momentum. On coming to the daily time frame EOS price is below 50 and above 100 Moving Average. The 50 MA (Red) line is at $4.11 making it temporary resistance for the coin. Resistance of the coin ongoing upside can be seen at $ 4.5 and on the downside, bounceback can be seen from $3.5. An Accumulation zone is being formed in the Monero on the shorter time frame of the 4-hour chart. If the price goes above $4.2 then a huge buying rush can be seen in the coin.EOS/USD pair can see a bullish move in the upcoming days.EOS/BTC pair can also see an uptrend in the upcoming days.
RSI(Bullish): It is trailing at the level of 38.7, showcasing its presence in the neutral zone. There is a positive slope formation in the RSI which highlights the possibility of a strong uptrend. The overall sentiment of the RSI is bullish.
Conclusion
EOS is a great platform for Dapps with a great team. EOS price forecast a great return for upcoming days. It has seen an ROI of more than 266% since its inception. The EOS/BTC pair can also break the resistance created in the past and can see a new high. An Investor should do their due diligence before investing.
Technical Levels
Major Resistance:$4.5
Major Support: $3.5
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
