By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
EOS is correcting barely on Could 28, buying and selling at $7.92.
The regular uptrend, nonetheless, remains to be occurring. On H4, the value received boosted and broke out the earlier channel boundary at 50% Fibo, or $eight.52. The MACD, in the meantime, is diverging, which can sign a reversal. Subsequently, as soon as the goal at $eight.52 is reached, the value could hit the native help at $7.32, after which, after breaking it out, head additional all the way down to $5.44, the earlier ascending channel help.
On H1, the Stochastic fashioned a black cross within the overbought territory, which can sign the value could possibly be taken to $7.32. Nevertheless, after testing it, the value could properly rise to $eight.52.
General, EOS is to date doing properly this yr. Right now, it reached its 2019 excessive, though correcting afterwards. The overall crypto market sentiment is reasonably optimistic, and but, this isn’t the one purpose.
As early as March 2019, Dan Larimer, EOS Tech Director, stated an necessary occasion was going to occur on June 1 in Washington DC. There’s nothing else so as to add to that to date, and the market is simply guessing. In truth, this could possibly be something from a street map all the way in which to new logos, with up to date launch cycles and pockets codes in between.
In early 2019, Block.One talked about new app releases a couple of instances, so this can be what persons are anticipating by June 1. This might properly be the EOS protocol replace as properly, which will probably be additionally nice, as market desperately needs it.
Earlier this yr, EOS buying and selling turnover was round $630M, now it’s round $5B. At the moment, the coin is quantity 5 in essentially the most in-demand crypto score, its market cap being $7.10 billion.
Any predictions contained herein are primarily based on the authors’ explicit opinion. This evaluation shall not be handled as buying and selling recommendation. RoboForex shall not be held Firm for the outcomes of the trades arising from relying upon buying and selling suggestions and critiques contained herein.