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- The billionaires Peter Thiel and Alan Howard are going to back a new crypto exchange. It will be run by Block.one, the parent company of EOS.
- Technical Indicators suggests a short term correction for EOS price . Meanwhile it has seen a gain of 43.43% in the 24 hours.
EOS price forecast a significant gain in upcoming days. The price went up by more than 500% from the start of the year. According to Bybt.com EOS shorts are increasing in the exchanges. This may take the price down to $11 before going higher. The market capitalization for the coin went up by 41%. The volume to market capitalization ratio also shows a bullish trend for the price.
EOS parent company Block.one will run a venture called Bullish global . It is backed by the billionaire Peter Theil and Alan Howard. It will offer an automated market making on a decentralised exchange. It could potentially offer a radically different way for investors to trade on markets. It can act as a strong catalyst for bullish momentum in EOS.
Technical Indicators Suggests A Minor Correction For EOS Price
EOS weekly technical chart highlights a bullish momentum..On the daily chart EOS price is trading above 50 and 100 Daily Moving Average.The 50 MA (Red) line is at $6.82 making it temporary support for the price. The coin can face resistance on the upper side at $15 . Meanwhile on a downtrend a bounceback can be expected from $10. EOS price has formed a strong bullish candle on the daily chart. It can push the price high in upcoming days.EOS/BTC pair is also on a strong uptrend with a gain of 41%
RSI(Bearish):It is currently trailing at the level of 67.4,showcasing its presence in the neutral zone.There is a negative slope formation in the RSI which highlights the possibility of a down trend.The overall sentiment of the RSI is bearish.
Conclusion
EOS recent news can push the price to newer highs . EOS price has seen a ROI of more than 266% since its inception which always attracted investors.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:$15
Major Support: $10
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.
