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EOS Analysis: (10/8/2018)

EOS Analysis

EOS (EOS) has actually been among the most questionable Cryptocurrency jobs to this day. The factors for this is, while the task raised 4 billion USD in financing and ended up being the greatest financed blockchain start-up to this day, there likewise have actually been lots of issues surrounding it throughout the very first couple of months after the main launch.

Nevertheless, the basic reason most EOS followers can be bullish on the long-run is that the task has sufficient financing to begin the development of the environment. Firstly EOS revealed a 1 billion USD developer fund back in 2017 and now just recently the business behind the task, Block.One, likewise revealed that Bitmain and Peter Thiel were leading their last financial investment round.


TheEOS/ BTC chart reveals us a break down under the long-lasting trendline, which implies that we will begin a brand-new cycle in the life of the coin.

The price motion is likewise stuck in a rather long coming down channel, which might suggest a turnaround or a minimum of a break out quickly, particularly given that our RSI shows an oversold chart pattern, that just occurred two times prior to traditionally and one was simply recently.

The bottom box shows a historic build-up zone that has actually been the beginning premises for 2 cycles formerly. We do not anticipate this zone to strike, however are really taking a look at its topside for a prospective buy zone, as that would be our significant assistance here with high vol swings formerly.

In case the price does not strike your targets, take a look at the break of the coming down channel for a great entry.

TheEOS/ USD chart reveals us a comparable pattern. The price is presently relocating a falling wedge pattern and has actually struck a historic short on the RSI chart. We likewise came close to the possibly last and greatest assistance (and purchase zone) EOS holders will be most likely taking a look at difficult weeks ahead in case we go listed below this zone as that would suggest that self-confidence in the market has actually lastly broken.

On the favorable side, both charts appear like the bottom must be near. In case you are trying to find entries, put in tight stop losses and wait on the possible bottom.

What do you think?

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.


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