After the EOS Mainnet Launch, How Strong is Price?
Good evening guys,
I get that we’re all excited about the EOS mainnet launch and all that good stuff, but nobody is just looking at the charts!
Over the last few weeks, I’ve spoken about some key EOS daily levels on the blog and the fundamentals of the mainnet launch really haven’t changed anything from a charting perspective.
Take a look at the daily below:
EOS/USD Daily
If you clicked that link above, you can see that price did bounce off that higher time frame support zone. While price was above this zone, the mainnet was successfully launched and price rallied to the next level of higher time frame resistance.
Did technicals preempt the move? Well that’s an argument for another day, but you can see the narrative unfold in front of your eyes on this blog.
So now with price hitting the next higher time frame level of resistance, zoom into an intraday chart and watch the price action:
EOS/USD Hourly
After the successful mainnet launch, I’m more using this chart to see just how bullish EOS actually is. How often have we seen buy the rumour, sell the news price action unfold.
Is EOS any different? Time will tell.
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
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What does EOS mean?
EOS is a type of cryptocurrency. It is a platform for decentralised apps to be built on.
Check it out, it’s worth a look.
When i read news like this, it always feels pretty odd when the price doesnt change much. This way you can clearly see there is a lot of speculation, the real technical changes often dont move the price.
The mainnet release while it looks like a single date where price should react, it’s actually been priced in for a long time.
The stronger projects will reprice higher longer term. This is all market psychology.
..Time will tell.
Yep.
But signs are positive in my opinion. Especially with all the block producer candidates collaborating ☮️
I’d rather be in than out. Lets put it that way. ✌🏻