• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

EOS Price Trending in Green Following 11.92% Surge – Can It Rise More?

Davit Babayan by Davit Babayan
3 years ago
in Cryptocurrency news, EOS, Technical analysis
Reading Time: 2 mins read
Advertisement

Cryptocurrency market on Wednesday added approximately $6 billion to its overall valuation. The top 25 coins, including bitcoin and ethereum, trended in green during the Asian session. But the biggest takeaway was EOS, a blockchain protocol asset, which posted maximum daily gains among the top ten crypto assets after rising 11.92%.

During the European session, EOS/USD established a fresh weekly high towards 4.18, its best since February 25. The pair noted a small correction as the session matured, dropping 1.43% by the time of this writing. At the same time, the volume recorded during the past 24 hours was close to $2.764 billion across multiple cryptocurrency exchanges.

EOS Price Chart | Source: CMC

Fundamental Factors

Late yesterday, Weiss Crypto Ratings, a division of Weiss Ratings LLC, launched a comprehensive report on emerging trends in cryptocurrency and blockchain markets. The agency awarded crypto projects with grades based on the likelihood of their short and long-term success. EOS received the position of second-best blockchain project for its technology and adoption, as well as for its high-grade risk-reward profile.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Weiss Crypto Ratings issues major new report on crypto industry, “Dark Shadows with a Bright Future.” Finds five key trends for investors: https://t.co/d1sNj2nn4L #crypto #bitcoin #altcoins #XRP #ADA #BTC #BCH #ETH #EOS #XLM #XMR

— Weiss Crypto Ratings (@WeissCrypto) March 26, 2019

Soon after the Weiss published its grade, EOS price started climbing. The cryptocurrency formed a big green candle during an hourly session between 0000 UTC and 0100 UTC and maintained its profitable scenario throughout the sessions that followed.

Could EOS Rise Further?

The ongoing EOS rally could fade anytime soon, given that traders would want to squeeze out their session profits. Fundamentally, an extended rally depends on investors who entered the EOS market today with a long-term strategy. Providing the rally was too sudden, it could fall back in an equal fashion.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Then, there is a particular market scenario at play. Let’s have a look at the Binance chart below to understand it further.

EOS Price Action History | Source: TradingView.com

On a session-to-session basis, the EOS/USD pair could correct lower upon testing a stiff resistance level. The pair is currently trending inside an ascending channel. It is now moving upwards towards the channel resistance, which has a recent history of capping EOS’ upside attempts. There is a likelihood that the asset would repeat its price action once it touches the resistance level. Traders could exit long positions near it, thus causing a bearish correction.

There is also a possibility of a breakout action (upside movement coupled with a rise in volume). If it happens, then traders could shift their long targets towards $4.53, the peak level from February 24 trading session. Therefore, the probability of EOS extending its rally would be more if it stays above the channel resistance trendline.

In long-term, EOS is still inside a downtrend. Ascending channels are technically short-term bullish indicators, which means they generally resume the trend that took place before their formation. In EOS case, the previous trend was bearish. So, unless the asset breaks crucial resistance levels, such as the one at $5.84, its likelihood of resuming a downward trend is enormous.

Tags: eos
Tweet123Share220ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Related Posts

bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

40 mins ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

4 hours ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

6 hours ago
Bitcoin

Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

6 hours ago
Crypto Market Loses $60 Billion As Bitcoin Dips Below $20,000

Crypto Market Loses $60 Billion As Bitcoin Dips Below $20,000

7 hours ago
Bitcoin

Bitcoin Sees Worst Quarter In 11 Years

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto To Add The Best Gains To Your Portfolio For Bull Market: Gnox (GNOX), Cronos (CRO) And NEAR Protocol (NEAR)

July 1, 2022

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.