EOS [EOS] all set to breach $2.82 key resistance, approaches overbought territory
The cryptocurrency market is showing rare signs of stability and most of the top 20 coins are trading sideways with no clear cut direction evident as of now. While most of the coins have registered marginal losses in the past 24 hrs, it’s nothing to make crypto enthusiasts lose sleep over and start mulling over the future of cryptos. Bitcoin is also showing remarkable resilience and stability and is still hanging around the $3650 mark. At the time of print, Bitcoin is trading at $3,631.74 which is down by 0.05 percent. Currently, EOS is trading at $2.80, which is down by 2.15 percent and trading volume for the past 24 hrs stands at $908,499,16. The total market cap of the currency stands at $2.53 billion. The total market cap of the cryptocurrency industry is still above the $120 billion mark and it seems that the market is set to stay this way for some time, which bodes well for the future.
At the time of print, EOS has found support at $2.7516 and the coin is trading just above it. Yesterday the coin broke the support level at $2.83 and then pulled back below the support at $2.7516. Recently, the coin made its way towards the $2.92 level and then retraced back. Currently, the key resistance level for the coin stands at $2.8169 and the coin seems all set to breach the level. The hourly RSI indicator stands at 58.6385 and the coin is slowly approaching the overbought territory. The MACD shows that the coin is entering the bullish zone and the 100 EMA line shows an uptrend.
At the time of print, EOS is down by nearly 2 percent and one EOS is equivalent to 0.00077101 BTC.
- In a positive development last month, EOSIO delighted its community by the release of its latest version 1.6.0 that is designed to boost performance and efficiency of the application. The EOSIO software has also come up with new tools in its Contract Development Toolkit (CDT). Apart from an overall performance improvement, the updates are an attempt to improve peer-to-peer networking layer efficiency.
- In another development last year, Singapore-based crypto exchange Huobi announced that its mining arm, Huobi Pool went live with Huobi EOS exchange. The exchange is an attempt to improve the trading services of “EOS related digital assets.” It is also motivated to develop “a benign EOS ecosystem” and ensure a secured trading facility.
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