While most cryptocurrencies are doing well in the run-up from DeFi demand, EOS has been touted as one of the profitable currencies to watch out for in 2021. With a market capitalization of $4,447,223,090, as per CoinMarketCap, it is the 17th ranked currency. Performance of EOS Since Last Week Since January 30, 2021, the EOS price has been rising at a faster rate. The 30-day EMA and SMA lines are continually below the price line indicating a bullish trend. The past week has been positive for EOS. On February 6, 2021, the opening price of EOS was $3.31. As of February 12, 2021, EOS closed at $4.75. Thus, in the past week, the price has surged by approx. 43%. In the last 24 hours, EOS has traded between $4.33-$4.94. https://ift.tt/2Zg3V0B What to Look for EOS Tomorrow Currently, EOS is trading at $4.84. The price has increased from the opening price of $4.75. Thus, the market looks healthy. The A/D and OBC indicators are rising. This implies buying volumes are higher than selling volumes. Rising whale accumulations will push the price further up. Thus, the market momentum is bullish. Presently, the RSI is at 51%. It had gone below 30% an hour back. Thereafter, it faced a bullish swing rejection at 30% and rallied. This means EOS was being ‘oversold’ some time back but gradually the selling pressures are decreasing. Hence, the price is likely to go up. The MACD and signal lines are negative but very close to the zero line. A trend reversal looks imminent as they are about to become positive. However, a bearish crossover by the MACD line over the signal line indicates some price corrections. Thus, there may be a brief price pullback. The AO indicator is negative. But, the ‘sell’ signals are not very strong. Thus, the intermittent price pullback may reverse soon and the EOS price may resume its uptrend. The actual value of the stochastic oscillator is 54%, whereas the 3-day SMA line is at 52%. Thus, the actual value line is above the 3-day EMA line indicating a bullish market momentum. An hour back, both the lines had crossed above 80% indicating that the demand for EOS was very high. Thereafter, they fell to the current levels. So large-scale offloading is occurring and there may be temporary price adjustments. The ADX line is falling too. The market is losing its breath. The bullish momentum is losing strength. But, it is still too early to confirm a downtrend or reversal. The current price is above the Fibonacci pivot point of $4.67. It is moving closer to the first Fibonacci pivot resistance level of $4.90. The bullish trend will sustain till tomorrow if the price breaks out of the second and third Fibonacci pivot resistance levels of $5.05 and $5.28, respectively by the end of the day.
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