Altcoins News
By Dan Saada
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The price of EOS dropped by 90% in the year 2018. There were wallet hacks and other challenges that the 5th largest cryptocurrency by market cap had to face.
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EOS was trending at $ 2.76 at the time of writing this news report.
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With the overall market decline EOS is facing selling pressure. The current price trends for EOS are similar to the sustained ranges of the past year.
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The EOS has been trending along the 50-day SMA trend line. Two SMAs are getting closer together. The price action of the cryptocurrency is above the 14-day SMA.
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It is very clearly evident that the EOS does not have an appropriate setup for the trading. There is a possibility for the trading positions to be suspended for a while.
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The long-term analysis of the trends for EOS is not as promising; however, the short-term analysis is showing some bullish trends.
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An exchange based on EOS has been announced by a major trading firm where EOS can be traded with other altcoins. This project will be established on a blockchain platform.
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The Huobi Group might launch an EOS-dedicated cryptocurrency trading exchange during the first quarter of 2019. This exchange will permit trading of EOS versus other asset types.
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The demand is likely to come from traders who are looking at favorable trading conditions from EOS pairs, which they think should be better than (ETH-USD), (USDT-USD) or (BTC-USD).
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There are a lot of technical challenges that EOS did not solve in 2018 carrying forward to the year 2019.
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Tradable signals can be identified by working around the support and resistance levels. It just takes a bit of training to the eye.
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If the EOS/USD pair breaks the $2.1733 level, it will only be a negative development, and this can lead to an onset of the downtrend where the price can drop to $1.55.
The Currency Analytics
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