- The MACD shows a bullish crossover with increasing histogram width.
- The chart has attained wonderful performance in the last month, and three months, by 28.25% and 50.61% respectively.
EOS is a blockchain-based decentralized platform. It primarily encourages the development, hosting, and execution of decentralized applications.
The EOS platform aims to offer faster transaction processing times, a more user-friendly interface, and the capacity to host a large number of dApps simultaneously.
EOS was designed to address the scalability and usability challenges faced by many blockchain-based systems in the horde that came in the last decade, especially the Ethereum network.
Overall, EOS aims to nourish a scalable, comparatively user-friendly platform for the creative developers to create their amazing work to develop decentralized applications.
EOS is the native cryptocurrency asset of the EOSIO blockchain platform, which was launched in 2018 after an ICO (initial coin offering) that raised $4.1 Billion.
Initially, EOS tokens were based on the Ethereum blockchain, but later the EOS mainnet was launched, and EOS tokens were transferred to the new EOSIO blockchain.
In general, EOS also has an outstanding governance system that utilizes an empowered and delegated proof-of-stake consensus algorithm, allowing token holders, which are its users, to vote for block producers who are basically in charge of validating transactions on the network.
EOS token is used to power the EOSIO software and pay for transaction fees and resources on the EOS network.
Is EOS Crypto Price Going to SkyRocket Soon?
The EOS crypto asset is demonstrating bullish behavior, as it jumped over the resisting trendline of the wedge and now it seems it has the opportunity to increase further. Overall, on the chart, it displayed strong performance last month and the last three months, by 28.25% and 50.61% respectively, implying a stable positive trend.
The EOS crypto is experiencing a surge of 0.28% in the last 24 hours, trading at $0.8725.
Consequently, if the demand for the EOS remains at peak, the crypto price could bounce back from the current level. The next goal for the EOS price is to reach $1.0000.
However, if the EOS crypto price fails to stay above the $0.7500 level, it could decline further.
The EOS crypto asset is showing bullishness and rising potential as it remains above major trend EMAs, which is influenced by the surge in number of buyers.
Furthermore, the EOS crypto asset is displaying bullish behavior. This is confirmed as the RSI is not near the 70 level, meaning that the asset is not facing much resistance yet and is likely to extend its gains, while the MACD shows a bullish crossover.
Summary
EOS price action highlights the bullish sentiments and perspectives regarding the crypto asset on the daily time frame. The EOS price action highlights a bullish view at the time of publishing, as it attempted to surge from a key level.
Moreover, the technical parameters of the EOS price suggest the continuation of the uptrend on the daily time frame chart. The RSI and EMAs are giving bullish signals.
Consequently, if the demand for the EOS remains at peak, the crypto price could bounce back from the current level. The next goal for the EOS price is to reach $1.0000.
Technical Levels
Support Levels: $0.7500.
Resistance Levels: $1.0000.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.