EOS Price Projection: EOS Bulls Hints For An Upside of 20.00%

EOS price hints a 20% upside
  • EOS price is currently trapped inside a trapezium in the daily chart. Meanwhile, the EOS/BTC pair is seeing a positive momentum with a loss of 1.42%.
  • EOS long to short ratio is 0.97 in a 24 hour time frame. Meanwhile, the technical indicators shows a sign of negative retracement

EOS has always caught investors’ eye for its aim to  make it as straightforward as possible for programmers to embrace block chain technology. It is used to develop Dapps on block chain and making it simpler to use than its rivals. EOS price projection shows a gain up to $8 in upcoming months. EOS is highly correlated with ETH and expects to grow further up to $8 by the end of next year.

EOS is currently ranked 24th, with a market capitalization of $5,661,501,408.The volume ($$7,134,223,656) of the coin has seen an increase of 30.6% in the 24-hour time frame. The volume to Market capitalization ratio for the coin is 1.36. The coin can sustain its uptrend in the upcoming trading sessions too.

Technical Indicators Projects A Bullish Momentum For EOS Price

Source:Trading view
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The weekly technical chart for EOS showcases a bullish momentum. On coming to the daily chart,EOS price is showing signs of positive bullish momentum. EOS price is trading above 50 and below 100 Moving Average.The 50 MA price is at $4.22, making it temporary support for the coin. The coin’s resistance on the upside will be at $6, and on the downside, it can witness a bounce back from $4.00. EOS is currently inside a trapezium in the daily chart . If the price breaks 10% above the upper line, then a robust bullish momentum can be seen. EOS can have an uptrend towards $6.00 in the upcoming days.

RSI(Bullish): It is currently trailing at 73.25, showcasing its presence in the overbought zone. There is positive slope formation in RSI, which suggests a bullish momentum. If it crosses above the threshold of 60, then a strong bullish momentum can be seen.

Conclusion

EOS price projects a uptrend for a short period.EOS price can reach up to $8 until the end of this bull season. The EOS/BTC pair can also see a bullish move. An Investor should do their due diligence before investing.

Technical Levels

Major Support:$4

Major Resistance:$6

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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