Today is a good day for crypto markets as Bitcoin has once again surpassed the $10,000 level and is up over 7% today. As most markets follow Bitcoin’s movements, EOS is also up 3% today trading at $4.11 on OKEx at the time of writing. It seems that Bitcoin’s $10,000 level is comparable to EOS’s $4 level. Can the current support hold and can EOS move up to its next target of $4.8? Let’s take a deeper look…
EOS Price News
In our EOS price analysis article yesterday, we mentioned that CoinCola has added EOS to their platform. If you aren’t familiar with CoinCola, they are essentially the Asian version of LocalBitcoins. Moreover, we also talked about Coinbase’s promotion of giving away up to $50 in EOS for completing some lessons about the EOSIO protocol. Visit this link to find out more: https://www.coinbase.com/earn/eos
EOS Trustless Exchange Lists $IQ
In other news, EOS’s first trustless decentralized exchange token.store has recently listed Everipedia’s IQ token.
Two weeks after announcing their launch of EOS’s first fully trustless exchange, @TokenDotStore has officially listed the $IQ : $EOS tradepair! HODLERS: head over there if you need to trade your EOS for IQ! pic.twitter.com/DZmJglgVSQ
— Everipedia (@Everipedia) July 17, 2019
According to token.store’s announcement, they are the first trustless exchange on the EOS blockchain – aka TEX. These exchanges are a step up from DEXs because there is absolutely zero trust involved when it comes to using them. TEXs don’t hold user funds and don’t even have software to run for the exchange. You simply deposit tokens to a certain ETH / EOS smart contract and the rest follows.
It’s great to see EOS launch its own exchange as so far we have seen many ETH based trustless exchanges.
EOS Price Analysis
Relative Strength Index: The RSI at the time of writing is at a healthy 51 points. It’s slightly higher than last night’s meaning the market was able to gain some strength and has more power for a move. The RSI broke through the upper bounds earlier today when EOS price jumped from $3.8 to $4.2 but has since stabilized.
Bollinger Bands: The priceline is currently approaching the lower band meaning the market should recover upwards slightly. The EOS market has been respecting the BB indicator quite well so it’s unlikely that a sudden move downwards will follow anytime soon.
EOS Price Prediction
Yesterday, we predicted that EOS will either see sideways trading or a move upwards. Lo and behold our prediction came true when EOS jumped to $4.1 from it’s yesterdays level of sub $4. Today things are still looking good and sideways trading for the next few hours is likely. Both the indicators are signalling somewhat bullish momentum but that can also be negated if Bitcoin makes a sudden move downwards. As always, keep a close eye on Bitcoin as most altcoin markets are still closely following their grandfather.
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 or digital currency.