The broader cryptocurrency market recovered on Friday, with most altcoins making up for losses in previous sessions. EOS [EOS], in particular, is performing well and could scale to the $6.50 level for the first time since earlier this month.
In the last seven days, the coin saw its value rise 27.5 percent, data from CryptoCompare showed. However, the crypto slid 11.7 percent in the last one month.
The virtual currency earlier found support at $5.89 and has since posted pretty solid gains. The coin experienced a breakout from the first resistance level, which can be found at $6.19. Currently, the crypto is steadily making its way towards the $6.50 mark.
At the time of writing, the 100 EMA line indicated that the digital currency was in an uptrend. The MACD showed that the coin was trading in the bullish zone. The crypto was exhibiting a significant trading range of $5.94-$6.49. As of 1927 GMT, the digital asset had jumped 8.2 percent against the U.S. dollar to trade at $6.42.
The virtual asset had gained 5.4 percent in value against BTC at the time of writing. Currently, one EOS is equivalent to around 0.00091 BTC.
EOS [EOS] Price Prediction 2018, 2020
- InvestingPr has predicted that the digital asset could hit a high of $150 by the year 2020.
- According to Smartereum, experts believe expect the coin could hit $37 by the end of this year. The five-year forecast for the crypto is set at around $143.
- CoinSwitch expects the virtual currency to hit $11 by the end of this year. Many predict that the price will reach $95 by mid-2020, after which it likely decline and end the year by falling to $56.25.
EOS [EOS] Latest Updates
- The team behind the altcoin, adopting the democratic option, have announced that a voting system will be used to determine the use of the funds in its savings account. The account, called EOSIO.savings, has amassed tokens worth $35 million. However, there is no clear indication of the long-term purpose of the gathered funds.
- Recently, EOS CTO Dan Larimer explained the unexpected EOS RAM consumption, ways to prevent the same and future plans. In a Medium post, he highlighted that governance processes can fix code behaving contrary to the intent of parties and long-term upgrade can make default behavior safer.
Image via Shutterstock
Join our Telegram group