Crypto

EOS Price Resumes Uptrend yet $4 may Remain out of Reach for now

Many people expected yesterday’s bullish momentum to peter out fairly quickly. While that could have been the case pretty easily, it appears things turned out a bit different in the end. As far as the EOS price is concerned, things are not looking all that bad.  While yesterday’s surge was temporarily halted a bit, the value is still sitting pretty at $3.8.

EOS Price Motor Stalls and Powers Through

It quickly became apparent yesterday there would be some bearish momentum for all cryptocurrencies eventually. Although no real damage has been done in the process, it would appear some uneasy momentum still lingers today. While there is nothing to be overly concerned about just yet, it seems the uptrend will be resumed in a slightly more controlled manner.

As far as the EOS price is concerned, it would appear the uptrend is still in play. Following a 4.3% increase, the USD value has risen to $3.8. There is also a 3.7% increase in EOS/BTC, pushing the Satoshi value to 95,571. Both trends are in line with what materialized yesterday afternoon, although it appeared the uptrend was a bit more firm at that time. Even so, the current price levels are respectable enough.

What is rather remarkable is how some people have found new reasons to fall in love with EOS once again. Bonz showed how the Chestahedron is not just the EOS symbol but also represents the heart. Rich Downing sees this as a key value of the EOS project as a whole. It is something few people ever give a second thought to, albeit it is certainly something to keep in mind at all times.

When it comes to the actual technical analysis of EOS, the future remains a bit uncertain at this time. Aykut Gundogdu considers the current price trend to be a Renaissance painting of some sorts. Whether or not that means the uptrend can and will be resumed, is a different matter altogether. There is still a lot of uneasy momentum affecting all crypto markets right now.

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For those who want to utilize EOS as a way to generate profit, using triangular arbitrage trading can yield surprising results at times. EOS is part of a BSV – BTC play spanning KuCoin, Binance, and Bitfinex. In the end, traders can expect to pocket a profit of up to 8.8%, which is rather appealing.

All of these signs seem to indicate EOS is still in a good place. While the uptrend may not be as strong a sit was yesterday evening, the overall trend has remained intact without too many problems. Combined with a more than healthy trading volume, there is a genuine chance the EOS trend will continue for some time to come. How high the value will rise in the process, remains somewhat unclear.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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