THELOGICALINDIAN - Cryptocurrency bazaar on Wednesday added about 6 billion to its all-embracing appraisal The top 25 bill including bitcoin and ethereum trended in blooming during the Asian affair But the better takeaway was EOS a blockchain agreement asset which acquaint best circadian assets amid the top ten crypto assets afterwards ascent 1192
During the European session, EOS/USD accustomed a beginning account aerial appear 4.18, its best back February 25. The brace acclaimed a baby alteration as the affair matured, bottomward 1.43% by the time of this writing. At the aforementioned time, the aggregate recorded during the accomplished 24 hours was abutting to $2.764 billion beyond assorted cryptocurrency exchanges.
Fundamental Factors
Late yesterday, Weiss Crypto Ratings, a analysis of Weiss Ratings LLC, launched a absolute address on arising trends in cryptocurrency and blockchain markets. The bureau awarded crypto projects with grades based on the likelihood of their abbreviate and abiding success. EOS accustomed the position of second-best blockchain activity for its technology and adoption, as able-bodied as for its high-grade risk-reward profile.
Weiss Crypto Ratings issues above new address on crypto industry, “Dark Shadows with a Bright Future.” Finds bristles key trends for investors: https://t.co/d1sNj2nn4L #crypto #bitcoin #altcoins #XRP #ADA #BTC #BCH #ETH #EOS #XLM #XMR
— Weiss Crypto Ratings (@WeissCrypto) March 26, 2019
Soon afterwards the Weiss appear its grade, EOS amount started climbing. The cryptocurrency formed a big blooming candle during an alternate affair amid 0000 UTC and 0100 UTC and maintained its assisting book throughout the sessions that followed.
Could EOS Rise Further?
The advancing EOS assemblage could achromatize anytime soon, accustomed that traders would appetite to clasp out their affair profits. Fundamentally, an continued assemblage depends on investors who entered the EOS bazaar today with a abiding strategy. Providing the assemblage was too sudden, it could abatement aback in an according fashion.
Then, there is a accurate bazaar book at play. Let’s accept a attending at the Binance blueprint beneath to accept it further.
On a session-to-session basis, the EOS/USD brace could actual lower aloft testing a annealed attrition level. The brace is currently trending central an ascendance channel. It is now affective upwards appear the approach resistance, which has a contempo history of capping EOS’ upside attempts. There is a likelihood that the asset would echo its amount activity already it touches the attrition level. Traders could avenue continued positions abreast it, appropriately causing a bearish correction.
There is additionally a achievability of a blemish activity (upside movement accompanying with a acceleration in volume). If it happens, again traders could about-face their continued targets appear $4.53, the aiguille akin from February 24 trading session. Therefore, the anticipation of EOS extending its assemblage would be added if it stays aloft the approach attrition trendline.
In long-term, EOS is still central a downtrend. Ascending channels are technically concise bullish indicators, which agency they about resume the trend that took abode afore their formation. In EOS case, the antecedent trend was bearish. So, unless the asset break acute attrition levels, such as the one at $5.84, its likelihood of resuming a bottomward trend is enormous.
