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- The annual tech industry event, CES, was held last week.
- Web3 developments to lift the EOS network
- CEO informs about the updates in the ecosystem.
Consumer Electronic Show (CES), the annual tech industry event was held in Las Vegas. Over the course of the event, more than 3,000 exhibitors showcased innovations related to metaverse and Web3.
The disruptive premise of Web3 is built on the fundamentals that include the blockchain that stores all data on asset ownership and the history of the transactions conducted; smart contracts; and digital assets that can value and engage with smart contracts to become programmable.
In order to make the EOS ecosystem ready for the upcoming wave of Web3, the team is working on every little aspect. Recently, the CEO of EOS network, Yves La Rose, took to Twitter to announce that EOS has made adaptations for the EOS’ Inter-Blockchain Communication (IBC) protocol.
Monoscopic views
The prices surged due to the recovering market and the developing notions of web3. The trading volume recorded buyers entering the market. Rising OBV with buyer volume, suggests optimistic sentiments among the investors. 200-EMA hovers above the current prices while the rest were claimed in the price rally. If the current prices of $1.06 can successfully sustain above the breakout level of $1.10, there are fair chances of a high run being set reaching near $1.300.
The CMF soars to the higher ranges in the positive zone to mark the bullish swing. The MACD records ascending buyer bars as the lines diverge for the bulls with the improving interest among the holders. The RSI holds a spot in the overbought zone to mirror the overwhelmed response by the buyers.
Microscopic View
The prices are facing a wobbly rise. A similar pattern is visible in the CMF which moves in the zone above the baseline to mark the bullish momentum. The MACD records a stumbled thread of buyers as they enter the market steadily. The RSI revolves around the 70-range, to display bulls taking charge of the market.
Conclusion
The EOS ecosystem is signaling towards matching development with evolving concepts. The EOS token precisely reflects the positive sentiments of the community and can further rally. The holders must look out for $1.10 to enjoy the rally.
Technical levels
Support levels: $0.95 and $0.89
Resistance levels: $1.13 and $1.20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
