EOS price jumps higher on the back of the US opening bell.

EOR sees bulls breaking out of the pennant formation with a 16% potential swing higher.

If Bitcoin can push toward $30,000, EOS can hit $1.35 on the back of that tailwind.

EOS (EOS) price is swinging higher on the back of Bitcoin price on Thursday. After the ferocious price action from Ripple earlier, Bitcoin is now taking over the helm and is rallying toward $30,000. Meanwhile, it is erasing losses from 2022 all the way up to June of last year, and EOS may get fired up to do the same toward $1.35, the high of March of this year.

EOS price enjoys its ride-along with Bitcoin bulls

EOS price is a perfect example of how the spotlight can be on altcoins, while the bigger cryptocurrencies are advancing. With Ripple price and Bitcoin price storming higher, altcoins are tagging along for the ride. EOS though still has a long way to go, but at this pace that $1.35 could be the ultimate profit-taking level at the end of this week.

EOS has really nothing in its way as the first R1 resistance is near $1.30. That is just a sign below the $1.35 peak of March, which is on every bull’s radar. With price action clearly underpinned and a clean breakout trade, a near 20% gain is all but guaranteed if majors Bitcoin and Ripple can keep the momentum going.

The threat of a mere implosion of the price action comes with the dependency of EOS price on Bitcoin and Ripple prices continuing to rally as the Relative Strength Index (RSI) is bound to tread into the overbought area. Should Bitcoin and Ripple halt their rally, the motivation for bulls to stay in EOS goes away, and the RSI is open for a sharp decline toward the oversold area. Just like that, EOS could flirt with $1.05 and a mere 15% loss. 

#eos #crypto2023 #Binance #BTC #BNB

EOS EVM testnet launch allows developers to build and deploy smart contracts written in Solidity – Ethereum’s programming language.

The launch underscores the network’s commitment to performance, flexibility, security, and developer experience.

Despite the merits of this launch, long liquidations have been spotted on exchanges, causing EOS price to plummet.

The first milestone on the EOS Network Foundation’s roadmap, the completion of the EOS EVM (Ethereum Virtual Machine) code, was achieved on March 22, starting the countdown to the launch of the EOS testnet. Well, it is finally here and the community is elated as it brings them closer to the mainnet release on April 14. The project has been a massive undertaking for developers and contributors across the EOS ecosystem.

Big News The $EOS  EVM is code complete ✅ This is the first milestone on the roadmap to launch, with testnet slotted for March 27 and Mainnet Beta on April 14 Stay tuned for a deep dive into the powerful architecture behind the EVM dropping this week ⚙️ pic.twitter.com/ldQAN1HVN9

— EOS Network Foundation (@EOSnFoundation) March 22, 2023

EOS testnet launch: Benefits to developers and users

EOS Network is an open-source blockchain platform, prioritizing high performance, flexibility, security, and developer experience. The high-performing blockchain platform’s move to add the new feature dubbed EOS EVM (Ethereum Virtual Machine) is a big win for developers, allowing them to build and deploy smart contracts written in Solidity, the same programming language that Ethereum uses.

Clearly, the network has the interest of developers at heart. Evidence of this is their move one week ago, committing to a $20 million direct investment into EOS EVM and GameFi projects.

EOS price drops as exchanges record massive long liquidations

EOS price is trading with a bearish bias at the time of writing, despite the alt season heating up. The token is auctioning at $1.081, after shedding almost 5% in the last 24 hours. Trading activity is up by 20% in the same timeframe, however, as token holders sell off their EOS to minimize losses.

Based on Coinglass data, the EOS price drop caused $1.04 million longs to be liquidated on March 27, against $158,710 shorts. The largest liquidation occurred on Binance followed by OKX, then Bybit.

As shown on the chart, there were many long positions before the price drop.

What to expect from EOS price this week

An increase in selling pressure from the current level of $1.081 could send EOS price lower to find the next breather at the $1.017 support area, or in dire cases, tag the $0.955 support level, reposting the March 12 lows. Such a move would constitute an 11% drop from current levels.

The trajectory of the Relative Strength Index (RSI) moving downwards with a price strength of 45 further supports the bearish sentiment, showing EOS price could plunge further.

On the upside, if buyer momentum increases, EOS price could recover its position above the 100-day Exponential Moving Average (EMA) at $1.092 and fall back within the triangle above the 50-day EMA at $1.115. A decisive flip of this resistance level into support would increase the chances for recovery.

Within the triangle, the EOS price would have to confront the 200-day EMA at $1.161 for a chance to break out of the governing pattern northward. A daily candlestick close above this level will invalidate the bearish thesis. On an upward move, the altcoin could breach the resistance level offered by a downtrend line at the $1.187 psychological level.

In highly bullish cases, EOS price could ascend toward the $1.225 resistance level, or even tag the $1.297 obstacle, a move that woul constitute a 19% climb from the current price.

#eos #evm #BTC #Binance #koinmilyoner

EOS price is currently trading at $1.21 after flipping the 200-day Exponential Moving Average into support this week.

The altcoin needs to breach the resistance at $1.32 in order to mark a six-month high.

Unexpected selling could bring the price back down below $1.16, invalidating the bullish thesis.

EOS price has been performing better than expected for the last three weeks, preparing to reclaim the losses it witnessed in early March. While all hands point toward a potential price rise, traders need to watch out for signs of the market overheating.

EOS price set for a rally

EOS price, trading at $1.21, is nearing immediate resistance at $1.25. Up by 23% in the last three weeks, the altcoin has managed to flip the 50, 100 and 200-day Exponential Moving Averages (EMAs) into support.  Nearing a 2023 high of $1.32, EOS needs to sustain an 8% rally going forward.

The Relative Strength Index (RSI) is in the bullish zone above the neutral line at 50.0 and rising. This is a positive sign for EOS price as the altcoin still has some steam to chart more gains over the next few trading sessions.

Support from the bulls would be crucial in driving a rally, flipping the resistance at $1.25 into support and breaching the $1.32 barrier. 

A rise above the same would not only mark a new year-to-date high for the cryptocurrency but also place the EOS price at a six-month high. The last time the token managed to touch this price level was back in September 2022.

But if the markets overheat by the time EOS reaches $1.32 and RSI climbs into the overbought zone above 70.0, corrections could be on the way. Some minor selling at the same time would also cause a similar reaction, and EOS could decline to $1.16. This critical support level marks the confluence between the 200-day EMA and the 50% Fibonacci retracement level of the $1.32 to $1.00 drawdown.

Losing the same would invalidate the bullish thesis and trigger a fall to $1.07 or lead to EOS price slipping below $1 towards the March lows.

#eos #Binance #crypto2023 #BTC #BNB