Credit: Original article published by CryptoPotato.

EOS/USD – EOS Returns To Highs Not Seen Since June 2018

Key Support Levels: $13, $12.30, $10.78.
Key Resistance Levels: $14.85, $16.50, $17.75.

EOS exploded by a total of 63% yesterday upon the announcement that BlockOne raised $10 billion to launch a new exchange. Upon the news, the coin surged from $9.00 to reach above $14 by the end of the day. Today, it continued to climb to hit $14.87 – a price not seen since June 2018. There, it met resistance at a 1.414 Fib Extension and has since rolled over to the current $13.25 level.

EOS had started to surge at the start of May before the announcement was made. Last week it climbed from $6.00 to break a long-term resistance trend line and reach $13. From there, it did drop lower until support was found around $9.00 at the start of the week.

EOS/USD Daily Chart. Source: TradingView

EOS-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $14.85 (1.414 Fib Extension). This is followed by $16.50 (1.618 Fib Extension), $17.75 (1.272 Fib Extension – red), $19.25 (1.414 Fib Extension – red), and $20.

On the other side, the first support lies at $13. This is followed by $12.30 (.236 Fib), $10.78 (.382 Fib), $10, and $9.55 (.5 Fib).

The RSI is showing signs of bearish divergence as price action creates a new high while the RSI fails to do so. This could be a signal of an imminent retracement incoming which might push EOS back toward $10 in the short term.

EOS/BTC – Bulls Approach October 2020 Highs

Key Support Levels: 22,175 SAT, 20,000 SAT, 17,700 SAT.
Key Resistance Levels: 26,190 SAT, 27,500 SAT, 29,600 SAT.

EOS is also performing very well against BTC itself. It started the month beneath 12,000 SAT as it began to climb higher in the first week of May to reach a high above 22,000 SAT. It started to fall last week until support was found around 16,000 SAT over the weekend.

The news of the new exchange caused EOS/BTC to surge yesterday as it rebounded from 16,000 SAT and surged above 25,000 SAT. Today, it continued to hit 26,190 SAT before rolling over to the current 22,900 SAT level.

EOS/BTC Daily Chart. Source: TradingView

EOS-BTC Short Term Price Prediction

Looking ahead, the first support lies at 22,175 SAT (.236 Fib). This is followed by 20,000 SAT (.382 Fib), 17,700 SAT (.5 Fib), and 15,700 SAT (.618 Fib).

On the other side, the first resistance lies at 26,190 SAT. This is followed by 27,500 SAT (1.272 Fib Extension), 29,600 SAT (1.414 Fib Extension), 31,565 SAT, and 33,000 SAT (August 2020 high).

Likewise, the RSI is also showing hints of bearish divergence which might cause a short-term retracement within the market.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



Comments are closed


Our Other Projects - Premium Domain Names. - Social Network - Mid-century Paris NFTs, tokenized on the WAX blockchain. - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible. - Ultra-Priviate DEX. - Classic Automobile News.