Coin

EOS price prediction: Rise to $5.6 ahead, analyst

The EOS price prediction by the analyst, The January 1994 suggests that the cryptocurrency’s price will rise towards the $5.6 mark in the long-term trade. On the 7th of January, the EOS price rose across the $3.4 mark, and it currently trades between the $3.1 and $3.2 levels.

1-Day EOS price analysis

EOS price chart 1 - 8 January
EOS price prediction chart by Trading View

The EOS price was observed at the $3.14 mark at the time of writing. On the 7th of January, the cryptocurrency rose across the $3.4 whilst BTC rose towards a newer all-time high. On the 8th of January, the cryptocurrency king has made it across the $40000 level. Before 2020 ended, the crypto king approached the long-awaited $20000 level, which was not enough for the cryptocurrency, which made it across the $30000 mark, and then the $40000 mark today. The crypto market is on fire as the new year progresses. The highest price approached by the EOSUSD pair was $3.25, whereas the lowest was the $2.86 mark on the 8th of January.

Along with the other altcoins, EOS also observed a significant increase in its price on the 7th of January. At the beginning of the 8th of January, the EOS price observed a downward trend, after which it gradually moved to the $3.25 mark. The oscillators currently show that the EOUSD pair is neutral in the market, with 2 oscillators indicating sell signals and 2 at buy signal. The rest of the 7 oscillators stand in a neutral position.

The Moving Averages are at a strong buying condition, where fifteen out of seventeen MAs stand at a buying position. 1 stands neutral, and 1 is indicating a sell position. The Moving Average Convergence Divergence (MACD) line and the signal line appears to be moving up on the 1D time frame. The Histogram size, however, has started to shorten in the positive region.

The Relative Strength Index (RSI) has come to 58.26, which means its also in the neutral zone. The EOS price tested the upper Bollinger band, and it has seen some rejection and resistance. The cryptocurrency may observe some sideways movements on the 1D time frame.

EOS price prediction: What to expect?

The Trading View analyst The January 1994 believes that the cryptocurrency is in a big up-channel from the beginning, and the cryptocurrency has recently approached the bottom of the channel. The analyst expects the price to rise towards the midline of this channel over the years to come.

EOS price chart 2 - 8 January
EOS price prediction chart by Trading View

The next price targets for this EOSUSD pair lie at the $5.69, $8.25, and the $21.9 levels. This is an idea for the cryptocurrency’s long-term positioning, and if it comes into play, the price should bounce off the bottom of the main channel. Per the EOS price prediction, the cryptocurrency has recently broken out of a big triangle pattern, and it appears to have moved towards the upside. The bottom of the channel is acting as support for the EOSUSD pair, and once the crypto asset gains enough price accumulation, the price will skyrocket towards the $25 mark in the long-term.

Source: cryptopolitan.com

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button