EOS Surges 16% Over the Weekend, Eyeing Extended Gains

[cybersofts]

Despite the criticism it is receiving for being a pseudo-decentralized blockchain project, EOS is performing exceptionally well on the trading front.

The EOS/USD rate during the weekend noted more than 16% surge. The upside action came in continuation of a strong bounce back from the 1.546-fiat level on Friday. The combination of Friday and weekend price actions marked a circa 40% rally for EOS, during which market cap added over $400 million in profits.

There are no substantial factors that claim a role behind the ongoing EOS rally. True, the coin has made into the Coinbase list of could-be-added crypto assets, but there are also 29 other coins that have made into the same list. But they have not displayed any aggressive upside actions like EOS. XRP, for instance, is mentioned in the Coinbase list but its 24-hour adjusted price performance, according to CoinMarketCap.com is +0.16% (at press time).

On Monday, the EOS/USD rate is hinting a correction action, however. The pair established a higher high during its uptrend towards 2.192-fiat, following which it underwent a sharp pullback. Nevertheless, the bearish jerk is well within the range the technicals are establishing for the pair. It could, therefore, go ahead for a reversal action, to continue its uptrend further. Let’s have a look at the chart below to understand it better.



EOS/USD 1H CHART | SOURCE: BINANCE, COINMARKETCAP.COM

The EOS/USD in trending inside a near-term ascending channel, forming higher highs and higher lows. The pair has just reversed from its upper trendline, derived after connecting the recent swing highs. It is now targetting the lower trendline to the downside for a potential pullback action. The sentiment is pretty bullish near-term and is also signaling profitable opportunities for day traders.

That said, traders can open a long position when EOS/USD reaches the lower trendline and exit the trade when the pair touches the upper trendline. Similarly, traders can also open a short when EOS/USD reaches the upper trendline and exit the trade when it the lower one comes into its range. A stop-loss order placed just below the opening position and against the direction of the price action should maintain the overall risk management of the trade.

Then, there is a breakdown/breakout scenario that should be considered. If EOS/USD breaks above the upper trendline while riding on a notably increase volume, then opening a long position towards, in our opinion, 2.5-fiat would make sense. Similarly, if the pair breaks below the lower trendline, then opening a short position towards the 50-period moving average on a 1H chart timeframe could prove profitable.

In the meantime, traders should watch out for $2-range for a potential reversal action as well. It’s only a psychological barrier.


Reference: https://www.ccn.com/eos-surges-16-over-the-weekend-eyeing-extended-gains/

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[consideritdone]

it has gone down too much dont you feel https://www.coingecko.com/en/coins/eos

[Tr0p1k]

Gaining 16% in a weekend to lose another 50% in a week.


EOS was $22 end of april now it's $2. If you didn't sell then and are happy with 16% gain this weekend you are crazy.
 
And i'm sure it will go under $1.

[diouf67]

EOS obviously had some of the biggest profits in the last few days because it was one of, if not, the biggest faller from the top 10 coins in the last few weeks. It's just a normal bounce, if the market goes back to falling then EOS will presumably again be among the hardest fallers.

[Didin]

Gaining 16% in a weekend to lose another 50% in a week.


EOS was $22 end of april now it's $2. If you didn't sell then and are happy with 16% gain this weekend you are crazy.
 
And i'm sure it will go under $1.

gaining about 16% is good profit for day traders my friend, but, not for holders,,,
personally i don't believe if eos price will go under $1, the price of eos will stay above $1 

[DudeAtWork420]

Gaining 16% in a weekend to lose another 50% in a week.


EOS was $22 end of april now it's $2. If you didn't sell then and are happy with 16% gain this weekend you are crazy.
 
And i'm sure it will go under $1.

gaining about 16% is good profit for day traders my friend, but, not for holders,,,
personally i don't believe if eos price will go under $1, the price of eos will stay above $1 

On contrary, I am expecting it to go under $1 when the bear is starting to make its move again for the last time. I stopped believing about something for 100% in cryptocurrency because when you are hoping or expecting for something, the market will move to the opposite side of your target and goal.
even though EOS has a good community and support, it won't change a fact that it is far below Bitcoin. And surely it will go down as long as Bitcoin gets dumped again in the future.

[SlimShadyMmp]

For those that support EOS thats really a good thing but seriously i think is better to just watch this coin from far I have some eos assets but still am waiting to see how far the coin can get and also the support its going to get compared to others like ETH

[jacafbiz]

If you are talking about 16% pump what about those people that have lost more than 90% of their money investing into EOS, personally I have no incentive to hold this coin because the main developer seems to be on the run again, soon EOS will be the next Steemit because he seems to have found a new baby

[cctv0]

This is just a crazy moment. If Bitcoin does not rise, the other coins are only temporary. There are no coins to play Bitcoin. EOS may become very valuable within five years, but I don't buy EOS now. The decline in the cryptocurrency market is not over.

[Kolikalex55]

EOS good coin and keep it part of the Deposit makes sense, but I advise you to deforsirovat risks and buy it for about 4-6% of the Deposit.

[suzanne5223]

it has gone down too much dont you feel https://www.coingecko.com/en/coins/eos

Dont mind the OP been optimistic about the coin because the coin in subject and NEO are both centralized coin and no one should believe or rely on any pump in price movement they gain because those that later step into the market will be slaughter.
Meanwhile, the coin is not doing so well in the market now and for those EOS lover can do is to accumulate it.

[Febo]

EOS Surges 16% Over the Weekend, Eyeing Extended Gains

If it goes down fast it will also go up fast.  That is how it goes here. But problem is that some coins will not recover at all. When you are choosing coins to buy you need to understand what they do. You cant just buy because you read somewhere t buy them.

[ChiNgadOr]

EOS has been always a very promising blockchain to me.. still a lot of competitor blockchains in the market.. but taking in mind it is all about a GLOBAL market, there is still a lot of profit for all of these competitors.. because just a 0,1% share of a WORLD market still means billions of dollars! When compared to the longterm, i still see EOS very very very undervalued..

[Horas1976]

EOS does have a future and seeing an increase of 16% is a good thing and certainly adds to the trust of holders and brokers to continue to hunt for EOS.

[Blongen]

Too much hype following EOS. Hope Dan Latimer doesn't pull a Dan Latimer :-) I think it's a truly strong alternative to ETH for real. 

[quality.crypto]

Gaining 16% in a weekend to lose another 50% in a week.


EOS was $22 end of april now it's $2. If you didn't sell then and are happy with 16% gain this weekend you are crazy.
 
And i'm sure it will go under $1.

It is very good to buy if it goes below 2$ because there are many people waiting for the EOS don't tend in order to buy them. But I think it won't go below the 2$ by the week end the price of eos may increase.

[Siti Nurbaya]

It seems that EOS has a good development and continues to have value, this certainly makes the community more trusting and prospective holders begin to look at EOS.

[karthcrypt]

Eos recent price rise is nothing when you compare EOS price in the last months,  EOS dump below $2 from over $10, there is nothing to celebrate here. I believe EOS has a lots of potential but cryptocurrency is under water for now!

[passwordnow]

Gaining 16% in a weekend to lose another 50% in a week.


EOS was $22 end of april now it's $2. If you didn't sell then and are happy with 16% gain this weekend you are crazy.
 
And i'm sure it will go under $1.

And it is now $1.82 and going further and can't be sure if it can handle this bear any longer. Possibly that it can under $1 if nothing happens by 2019.

it has gone down too much dont you feel https://www.coingecko.com/en/coins/eos

Down by 2.71% today
https://coinmarketcap.com/currencies/eos/

[styca]

Gaining 16% is nothing after it has lost so much. It's a similar situation for most coins, but with EOS it's more pronounced.
If a coin is $1000 and then drops 90%, it goes to $100. If it then increases 90% then it goes to $190... still vastly less than the starting price.
Yes it can be good from a trading perspective, but we need to remember that percentage rises can be misleading when coins have fallen so hard from their ATHs.