- The trading price of the EOS crypto has declined by 16% over the past year.
- The crypto has a high liquidity of 13.92% based on its market cap.
EOS is a blockchain platform for decentralized applications (dApps), addressing scalability and usability issues. Launched in 2018, its native token, EOS, facilitates transactions and resource allocation.
Created by Dan Larimer and backed by Block.one, EOS employs delegated proof-of-stake for governance, allowing token holders to vote for block producers.
The EOS crypto has witnessed 17 green days in the last 30 days while the crypto has negative performance compared to its token sale price.
The crypto’s fear and greed index indicates greed among investors, while the volatility of the crypto is very high, resulting in 14.24%. The market cap of the crypto has further declined by 2.7% in the last 24 hours.
The market cap of the crypto is $1.10B, which further results in a market cap dominance of 0.05%. The traded volume for the crypto has witnessed a decline of 2.29% in the last 24 hours. Also, the value of the traded volume for the crypto is $150.684M.
EOS is the 90th largest cryptocurrency in the global cryptocurrency market. Also, the circulating supply for the crypto is 1.12B EOS, followed by a similar total supply. Despite this, the maximum supply of crypto is infinite.
The token has a medium supply inflation of 3.66%, while the crypto’s fully diluted market cap is $1.102B. The all-time high price ever recorded for the crypto is $22.89, and the token’s price has since declined by 95.7%.
EOS Crypto Derivatives Analysis
The chart of Coinglass for the open interest activity of EOS crypto clearly indicates that the open interest in crypto has witnessed a massive decline over time. The current open interest in crypto is worth $114.72M, which has declined by 2.3% in the last 24 hours.
The derivatives trading volume for the crypto has declined by 1.6% over the last 24 hours. Following this, a higher long liquidation in the crypto is recorded. The long liquidation for the crypto is worth $386.25K.
Also, the short liquidation for the crypto is $32.59K, and the long/short ratio of the crypto is 0.9558.
EOS Crypto Blockchain Data Overview
It can be seen on the charts that the stablecoins market cap is followed by a green line, indicating a subtle advance over time. Also, the current value of the stablecoins is $75.42M.
The Total Value Locked for the crypto is also at specific highs, valuing $103.45M. Moreover, the total amount raised by the crypto is worth $4.2B.
Volume Vs RSI Comparison
The RSI and the volume of the crypto are together declining, followed by a decline in the price. It indicates that the new sellers are not joining the declining momentum.
EOS Crypto Technical Analysis
The EOS crypto price on the weekly charts was trading inside a descending triangle pattern, and the price further broke above the pattern, leading to a surge of 70% in the trading price.
After the breakout in the price, EOS crypto has formed a swing high and is currently retracing to breakout levels. It indicates that the crypto’s price is sustaining the breakout, and if it breaks above the last swing high, a further surge in the price might be witnessed.
EOS/USD Chart by TradingView.com
Although the trading price of the crypto has advanced to certain highs, the price of the crypto has retraced to 50-day EMA. Moreover, the 50-day and the 200-day EMAs are trading in a golden cross.
The MACD indicator explains a mild bearish behavior as the signal line is trading above the MACD line, and the following factors are sliding toward the lower level. Despite this, both the lines are trading above the zero level.
The RSI is following a bullish cycle while it has declined from the overbought zone to the level of 48.4. It also is currently trading below the 14-day SMA. Thus, the RSI must break above the 50-level to continue the uptrend and sustain above the same.
Summary
Despite a decline in trading price over the past year, EOS crypto shows bullish potential. A recent breakout from a descending triangle pattern led to a surge, indicating sustained momentum. Technical indicators like golden cross EMAs and bullish RSI suggest a potential uptrend continuation if the price sustains above key levels.
Technical Levels:
- Support levels: $0.5200 and $0.6700
- Resistance levels: $1.9200 and $3.1600
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.