(Updated April 10, 2021) — EOS is only beginning its journey. EOS price is separated from other digital currencies, both in technical characteristics and the scale of its goals. This is one of the main reasons it managed to raise $4 billion during the ICO (Initial Coin Offering). The main objective of this platform is to become an enterprise-grade solution for the deployment of decentralized applications. The team behind the project have shown a very responsible approach to its technical documentation, appearance in the media, and overall presence in the crypto industry.
Experts’ Opinion On Why EOS Will Rise
EOS is the 8th largest digital currency in terms of market cap and it’s currently trading at $4.49 after a 10% change over the past 24 hours. The coin has become very popular due to its decentralized apps and smart contracts, which have proven to be better than Ethereum’s. Developers of the network state that it’s not affected by the scalability challenges that affect other public coins.
Let us take a look at why experts think that EOS’s price will rise.
According to CoinSwitch, 2020 will be a golden year for EOS. The coin is expected to reach $95 by July before declining slowly to the $56 level by the end of the year. Over the next five years, the platform expects the price of EOS to be around the $106 level.
TradingBeasts predicts that the price will grow from the $2 range to around $3.6. The following year the price is expected to continue to rise to the $4.2 level before ending the year at about $6.
According to Business Insider, the EOS platform will continue to evolve and will soon become the most preferred. The publications believe that the coin’s price will surpass $10 soon.
Additionally, a panel of 10 experts analyzed the performance of 13 leading cryptocurrencies to give their predictions. The panel was extremely bullish about EOS. On average, the panel expects the coin to reach a price close to $18.7, which represents an increase of 727% since January this year.
According to WalletInvestor, investors should consider EOS as a favorable investment option. The site believes that EOS’ price will reach $911 by 2023. They attributed this positive prediction to the recent developments in EOS platform and increased adoption in different industries. These are significant determinants of cryptocurrency’s success.
Investopedia also named EOS as one of the most promising digital currencies out of the many that exist today. The site mentioned that EOS offers more scalability compared to other cryptocurrencies and that it is revolutionary as it lacks a mining mechanism to produce coins. The platform also includes a system of complex rules to govern the EOS rewarding process, which makes it more decentralized. Forex broker in Australia are already offering forex and crypto trading.
Additionally, according to Coinbase, “EOS is a cryptocurrency designed to support large-scale decentralized applications. There are no fees to send or receive EOS.” The platform made this statement after adding support for the EOS cryptocurrency for its retail customers. This positive statement and development show that the coin has a bright future.
It is worth mentioning that EOS has also launched a new social media network called Voice. This had also a positive impact on the price of the cryptocurrency and it is expected to increase network activity.
EOS Price Prediction TradingView Analysis Updated April 10, 2021
This analyst has drawn a very clear harmonic pattern on the chart of the EOSUSDT trading pair. As he explains, it is possible for the digital currency to eventually reach $27 per coin or even $89. However, it is always important to trade price action system at these prices according to his comment.
The Shark targets include CD = 0.88 XA = $12 or CD = 1.13 XA = $21. Eventually, it is also possible to see CD = 2.24 BC = $89 as the analyst explained.
In terms of Cypher targets we have CD = 0.78 XA=$9.50 or CD = 1.27 BC = $14.50 or CD 2 BC = $57. With The Fibonacci extension is also present in the chart.
This analyst explains that in his opinion, EOS is one of the most promising cryptocurrencies in the market. It might be possible for the digital currency to move higher towards very high goals. For him, the virtual currency could eventually move towards $10.30 per coin. This is certainly a massive price increase from current levels. This could take place throughout 2021, and it would definitely depend on how the market behaves as a whole.
Another possibility described by the analyst is related to breaking the red line that we see in the chart. However, if it does, it would gain the necessary strength to move to the $10 price level and eventually surpass it.
For the EOS/USDT trading pair, EOS has been in a period of accumulation and it could be ready to move up in the near future. According to the analyst, there are 4 targets defined by the Fibonacci Projection. These are also part of a take profit strategy if a long is opened right now.
The TP levels include 7 USDT, 9.25 USDT and 12.50 USDT. Of course, it could eventually move to 15.75 USDT per coin in a massive move higher. However, this remains to be seen. At the moment, EOS needs to break through the resistance area at 4.14 USDT in order to start targeting the other Fibonacci take profit levels.
The analyst considers that for the EOS/USDT trading pair we could soon see a long possibility for this digital currency. Nevertheless, he considers that we could only wait for a confirmation before buying with controlled risk.
As he shows in the charts, EOS could continue moving higher and reach a price per coin of 4.6 USDT in the coming weeks. However, at this point, the digital asset could find some resistance that would make it difficult for it to continue growing in the future.
Thus, the analyst considers that we can open a long position from our current levels as long as we manage our risk.
The analyst is showing that there is strong support for EOS in the region between 4 USDT and 4.36 USDT. At the same time, the MA is also working as support levels. The analyst was waiting for an entry towards 5.4045 but eventually, the market is now resisting at 4.4867 USDT.
A selling trade could be opened at around 4.20 UDST and 4.48 USDT. The long position he is showing should have been open above the aforementioned levels targeting a selling of 5.4045. Nevertheless, this is just a possibility. The analyst says that he is not responsible for trading decisions.
Want to learn more about EOS? Read our Beginner’s Guide to EOS here, complete with a history of the project and fundamentals of how the coin provides value.
Interested in investing in EOS? You’ll want to start with our EOS price prediction article —including short-term and long-term outlooks. (Always do your own research and read the site disclaimer)).