Since the downward trajectory of EOS appears to have been broken, its bearish momentum appears to have slowed. Despite continued bearish price action, the coin has decreased volatility. EOS is currently trading at $3.66 at the time of writing. A little over one percent has declined in price in the past 24 hours, while the trading volume has decreased by 20%. This cryptocurrency is in a hard place right now.
Market conditions for cryptocurrencies remain bearish. There are twenty-six technical indicators in total, with fourteen of them showing an indication to sell, ten in a neutral position, and only two showing a buy signal. Moving averages in the daily timeframe remain bearish despite the oscillators being neutral.
The open-source software, EOS, was founded by Block.one in 2018. The EOS software is based on blockchain technology. It acts like the operating system of a computer. In a product called EOS.IO, an application that allows users to create and use centralized applications is made easy. The EOS token is the native token of the EOS.IO network, used as a payment system
EOS is committed to bringing blockchain technology into the mainstream. Using EOS, developers can easily build decentralized applications. As a means of achieving blockchain technology adoption, EOS’s unique strength is its simplicity and ease of use. In comparison with rival platforms, EOS is more user-friendly. The EOS network also provides developers with an array of educational resources to enhance the user experience.
Would it be a wise investment? In terms of market capitalization, EOS ranks 27th on the list. Blockchain technology will become increasingly relevant in the future, so it is anticipated that legitimate cryptocurrencies will grow over the long term. Despite the project’s shortcomings, EOS is considered one of the top bets in the market because of its vision, attention to user experience, and scalability.
The price outlook for EOS in the long-term is also positive. By the end of 2018, Wallet Investor estimates cryptocurrency prices will reach a level of $4.67, whereas five years from now it is projected to reach a level of $6.21.Digital Coin Price sees Bitcoin’s future as more optimistic. Their estimation is that EOS will reach a price level of $5.4 by the end of the year and $16.54 by 2028.