EOS Price Analysis: Trading Near to All-Time Low 

• EOS is currently trading at $0.75259 with a rise of 9.04% in 24 hours.
• EOS’s live market cap is $823,256,026.
• EOSs 24-hour volume is $160.04M which rose by 45.82% in 24 hours. 

Introduction 

EOS is a platform based on the blockchain made to facilitate smart contracts and decentralized applications (dApps). It seeks to give developers a flexible and user-friendly infrastructure so they can create and distribute their applications.

EOS’s main objective is to solve some of the scalability problems that other blockchain platforms, like Ethereum, have. Delegated Proof-of-Stake (DPoS), a consensus method used by EOS, enables quicker transaction processing and increased throughput. 

Trend Analysis

We could state that EOS is currently in a downtrend based on past price data. The price of EOS has increased by 26.90% during the last five days, showing that it is currently performing poorly. Nearly four years ago, EOS reached a high of $23.0290. Since then, it fell by -97.94%. As stated above, there is currently no significant amount of volume available, indicating that there aren’t enough buyers because of the negative market sentiments. The underperformance of the coin may be due to this.

EOS Price Analysis

EMA: The price of EOS is currently trading below both the 20-day and 50-day exponential moving averages in the daily time frame, which is a bearish indicator. EOS is the focus of sell-side investor sentiment and bearish momentum.

MACD: Moving Average Convergence Divergence is also signaling bearishness and sending an unfavorable message weekly. The signal line is at -0.0608 and the MACD line is at -0.0453, both of which are below the zero line and indicate that the MACD is in the negative zone and will move in the direction of the bears.

RSI: The RSI, a momentum oscillator, measures the speed and magnitude of price changes. Between 0 and 100, it oscillates, with readings over 70 suggesting overbought situations and under 30 indicating oversold zones. The 14 SMA line below the median line is close to 31.07 and the current value of the RSI is 50.66, all of which point to bearish momentum in the market.

Volume Analysis: The EOS 24-hour trading volume is $160.04M with an increase of 45.92%, indicating an increase in market activity in the current state.

Technical Levels

Support – The current support level of the EOS is $0.5079.

Resistance –The current resistance level of the EOS is $1.8833.

Conclusion 

As per the analysis, indicators like the EMA and MACD are producing negative signals while the RSI indicator is producing neutral signals. As a result, the coin’s unfavorable sentiment increased.Investors now aren’t showing a lot of interest in purchasing EOS. A poor picture for the immediate future is indicated by the current price of EOS. 

Disclaimer

The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss