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Home News EOS News

EOS price prediction: EOS to rise to $3.95, analyst

Taha Farooqui by Taha Farooqui
October 16, 2020
in EOS News
4 min read
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EOS observed a ruffled price movement over the charts for the 15th of October. The EOS price prediction by DLavrov suggests that the cryptocurrency will soon move towards the $3.95 mark.

1-Day EOS price analysis

EOS price chart 1 - 15 October
EOS price prediction chart by Trading View

EOS was priced at $0.245 US Dollars at the time of writing. The coin approached a day’s high of $2.611.

EOS price prediction: A rise to $3.95 next?

EOS price chart 2 - 15 October
EOS price prediction chart by Trading View

EOS is expected to rise towards the $4 mark soon. The Trading View analyst DLavrov believes that the cryptocurrency will soon see an ascending move.

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The Moving Average Convergence Divergence (MACD) line appears to have moved above the signal line, and the histogram size is decreasing in the negative region. This is a bullish indicator for EOS. The Relative Strength Index (RSI) stands near 55.00 while it appears to be trending upwards.

The idea suggests that the cryptocurrency will reach the $3.95 mark very soon, while the stop-loss for this trade was marked at $2.55. This means that if the cryptocurrency falls below this price, the traders should sell the asset as the idea will have invalidated.

What’s next for EOS?

A big ascending channel was caught on the 3-day time frame for the EOSUSD pair. The analyst Naif believes that the cryptocurrency has been trading inside of this ascending channel from July 2017.

EOS price chart 3 - 15 October
EOS price prediction chart by Trading View

The analyst drew a descending triangle over the cryptocurrency’s trend. The support was highlighted at $2.605, and if we look at the chart, EOS appears to have shown a decreased volatility in its price. Such a low amount of price volatility can result in a breakout. The idea suggests that the cryptocurrency will break towards the upside from this big descending triangle, and then trend upwards in the channel.

The target prices were marked at $7.9, $12.5, $23, and $49. The trade volume can also be observed decreasing under a trendline over the past 2 years.

Another analyst from Trading View used the descending triangle pattern on the 1-day time frame for EOSUSD. The analyst highlighted the trend of the decrease in this cryptocurrency’s decrease over 2019 and 2020.

EOS price chart 4 - 15 October
EOS price prediction chart by Trading View

Per the trade, the cryptocurrency will break upwards from the descending triangle and hit the $6.04 mark. The stop-loss for this trade was highlighted at a lower value of $1.122. The cryptocurrency seems to have been supported by the $1.61 mark from 2018.

EOS breaks above descending resistance

The altcoin has been trading above a 6-months long support level. Looking at the chart below, we can see that it has bounced off the support level at multiple points.

EOS price chart 5- 15 October
EOS price prediction chart by Trading View

After July, the cryptocurrency made an ascending move and rose past $3.8, which was followed by a gradual decline and the price eventually met the $2.6 mark. The analyst drew a descending trend line against this decreasing trend of the cryptocurrency, and they highlighted a breakout above this trend line. Per the idea, EOS is showing off buy signals and it will gradually pick up the pace to ascend over its charts.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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