may EOS price rise to $2.50 USD next week? Market Analysis [Eostalk Contest #2 entry]
We could say that next week the price of EOS next week can go up, go down or stay in the trading range it is right now, obviously...
since EOS began to be traded on big exchanges like Kraken and bitfinex not long ago it's even harder to predict things and use TA
so little data...
but let's give it a try:
taking a look at the charts, what do they tell us?
on the EOS/USD 4H at Kraken we can definitely see that we have a support around 1.40 USD and a resitance-ish around 2.05 USD
if it breaks the resistance it is testing now, what can be likely if bitcoin keeps rising on price with August coming, it could easily follow the up trend and come to test previous fib levels at .236 (2.508 USD) or .382 (3.34USD) like in the past.
since I ate only 2 eggs for breakfast today, I would go with less risk and say that next week EOS could test previous highs and come closer to 2.50 USD again!
soft yolks please
I'm still a begginer on technical analysis, studying a lot about it and learning, so don't take it so serious!
what about you? where you believe EOS price may be next week?
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Let's play a small game, I am betting that eventually EOS will go down to $1 or less...lets say at 100 days mark! Not sure about next week...though - so I will watch your prediction!
Upvoted!
Could you take few minutes to review my ICO Review Series, the latest of which is about BitClave. I don't care for upvotes, just candid feedback. I know I put in lot of research/work behind these reviews and need candid feedback from those in this space.
With 2 million new EOS coming onto the market every 23 hours (eosscan.io), and no viable product yet, it will hard to sustain its current price.
Because of the strange ICO distribution there is no telling where EOS will go the next year. Afterwards, I think the price will go definately up by a lot if it starts delivering on it's promises. I think anything below $2 is a good point to step in, although you could take the risk and wait for it to drop lower. A year is a long time, I'm sure there will be more ups and downs. It's all a completely speculative market at this point, anyway.
@lucasgabd great post man! The eggs thing was funny and a nice touch after I've read probably 100 analytical articles today. Will follow you and hopefully give you a bit of support along your journey if I can.
hahahaha thanks!
be aware! too much information can make our heads explode!
it's good to read and learn but sometimes taking time off and relaxing can also help to digest and absorb the information ;)
image source: Pixabay
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I always see a lot of comments on the daily ICO impacting the price. But this is common knowledge and already calculated in the current price
If there would only be 200mio of EOS we would be looking at another current price level
I think we should look at the market cap of total supply (1bio). Almost 2 bio value seems indeed high but this is the case for most cryptos
If I see the potential everybody sees in EOS and look at the coinmarketcap benchmark than EOS marketcap doesnt seem too high