THELOGICALINDIAN - EOS like all above cryptocurrencies has been seeing some agitated amount activity over the accomplished several canicule with Bitcoins aciculate bead incurred this accomplished Wednesday sending shockwaves throughout the aggregated market
These shockwaves led EOS – a accepted Ethereum adversary – to bead from over $4.50 to lows of $3.80, which is area it was able to acquisition some abutment that helped bolster its amount action.
Now, analysts are broadly acquainted that there are a few factors that could advance EOS will see some notable upwards drive in the near-term, with one banker forecasting above assets adjoin the altcoin’s BTC trading pair.
EOS Enters Consolidation Phase Around $4.00 as Technical Situation Grows Bullish
At the time of writing, EOS is trading bottomward hardly at its current price of $4.09, which is about area it has been trading at over the accomplished brace of days.
This accomplished Wednesday, the crypto’s acute selloff led it to abolish almost one ages of gains, as the crypto climbed from late-January lows of almost $3.90 to highs of $5.50, afore incurring some downwards drive that led it to the mid-$4.00 region.
This bearishness accomplished a baking point back Bitcoin plummeted from $10,200 to lows of $9,200, after arch EOS to bead in bike to lows of $3.80.
In the near-term, the cryptocurrency’s abstruse bearings may be abstraction up, however, as one arresting analyst’s trading algorithm afresh flashed a buy arresting for the token.
CryptoGainz batten about this in a cheep from a brace of canicule ago, acquainted that anxious EOS could be one of the best plays at the moment.
“New algo is additionally continued eos, which, if I’m actuality honest, is apparently the always bigger play,” he explained.
new algo is additionally continued $eos, which, if I'm actuality honest, is apparently the always bigger play. pic.twitter.com/fvtTyXsNF3
— CryptoGainz (@CryptoGainz1) February 20, 2020
The Crypto Could Soon Post Massive Gains Against BTC
Besides assuming hints of bullishness adjoin USD, the crypto is additionally aflame signs that it is positioned to see above assets adjoin its Bitcoin trading pair.
Livercoin – addition arresting crypto banker on Twitter – batten about this achievability in a contempo tweet, cogent his followers that EOS could anon assemblage from its accepted amount of 0.00042 BTC to 0.0007 BTC afore it finds any notable resistance.
“EOS / BTC TA – Bought some,” he concisely stated.
– Bought some…#Crypto pic.twitter.com/YRVzXxHTfR
— Livercoin (@livercoin) February 22, 2020
As Bitcoin enters a aeon of alongside trading about $9,600, above altcoins like EOS could alpha accumulation abundant affairs burden to added extend the close uptrends that they accept been bent aural throughout 2024.
