After the earlier part of Saturday’s session saw most major digital assets trading in the red, selling pressures are slowly easing and giving way to bulls in the market. EOS [EOS] is recovering significantly, with the coin trading above the $5.50 mark for the third straight session. In the last one week, the crypto had gained 6 percent while in the last one month, the virtual currency’s value shot up by 15.5 percent.
The crypto had initially breached a key support level, noted at $5.29. After a brief consolidation phase, the coin has experienced a sudden spike in its price and is attempting to rise further. The virtual currency is currently facing resistance at $5.50.
The hourly RSI indicator is currently at 60.6, which means that the coin is attracting significant buying interest. At the time of writing, the MACD showed that the crypto was trading in the bullish zone, but selling pressures are threatening to drag it back into bearish territory. The 100 EMA line indicates that the altcoin is experiencing an uptrend. The token is exhibiting a significant trading range of $5.21-$5.52. As of 1033 GMT, the digital asset had risen 4.2 percent against the U.S. dollar to trade at $5.44.
At the time of writing, the coin had edged 2.9 percent higher against BTC. At present, one EOS is equivalent to around 0.00083 BTC.
EOS [EOS] Price Prediction 2018, 2020
- According to Smartereum, experts believe the coin could hit $37 by the end of this year. The five-year forecast for the crypto is set at around $143.
- InvestingPr has predicted that the virtual currency could hit a high of $150 by the year 2020.
- CoinSwitch has forecast that the crypto will trade at $11 by the end of this year. Many predict that the price will reach $95 by mid-2020, after which it will likely decline and end the year at around $56.25.
EOS [EOS] Latest Updates
- Bitfinex is all set to release the beta version of EOSfinex in a live demonstration on September 26. This collaborative effort between Bitfinex and EOS was first announced in February. Once launched, the decentralized exchange will support three trading pairs: EOS/USD, BTC/USD, and ETH/USD
- HitBTC, a contentious cryptocurrency exchange, recently announced that it has added EOS-based trading pairs on its platform to improve liquidity. The platform is launching trading pairs with Ripple’s XRP, Litecoin [LTC], Monero [XMR], Dash [DASH] and Bytecoin [BCN].
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