It’s Monday and EOS is on fire! Looking at Coinmarketcap’s top 10 cryptocurrencies we can see that it’s a boring day for all other cryptos. Most coins are still recovering from Sunday’s bull run and are trying to keep their support. EOS on the other hand, not only continued it’s bull run but just recently set another high. Let’s take a look at some EOS news that might have contributed to the recent price hike, and see if the charts tell us anything.
It didn’t take long to find the cause for the recent price hike. While Ethereum is preparing for its ETH 2.0 launch, EOS isn’t sleeping either. The EOS team is preparing for a new version update on September 23rd, which will further improve the EOS network. EOSnation team put out a live tracker you can use to see when the upgrade will happen exactly.
As eoswriter reported, the biggest deal about the new EOS upgrade is that it will allow dApps to pay users for their CPU power. That’s something that wasn’t possible before but is an amazing feature that is sure to bring more users to the EOS ecosystem.
EOS Price Analysis
Relative Strength Index: The RSI is currently at 78 points. This means the market is overbought and will be looking to retrace until its in range.
Bollinger Bands: EOS/USD is also outside the range. This is another signal that the price will be looking to retrace in the next few hours. It looks like EOS/USD is not even close to being out of steam, so in this case the band will have to catch up to the price.
Volume: The volume is currently great. It’s been picking up which means that another sharp move is not out of the question.
EOS Price Prediction
Unfortunately, my previous EOS price prediction was completely wrong. I predicted that EOS will respect the first double top and retrace to $3.5. I couldn’t be further from the truth, as EOS didn’t care at all about the double top and kept with its bull run. Not only did EOS dismiss one double top, but it actually did so twice.
This leads me to believe that we will see another double top and once again EOS will break through and attempt to test a new support level.
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.
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