(Updated August 13, 2022) — 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 in 2020 and 2021
We have seen that EOS has been in an accumulation period for most of 2020. The digital currency was looking very well before the COVID-19 crash. However, the rest of the year was not so good in terms of price action for EOS.
It is worth taking into consideration that the digital currency was able to surpass $5 per coin in early 2020, something that could have just been the beginning of a bull market for this digital asset. However, things changed later and the coin was not able to recover from the market crash of early 2020.
Compared to other coins, 2020 pushed EOS lower to a tight range between $2.20 and $3. This was a good period for investors to get access to this virtual currency and increase their exposure to the market.
As we already know, 2021 was a very good year for the entire cryptocurrency market. It was not only possible for Bitcoin and other digital assets to reach new highs, but it helped the whole crypto ecosystem to expand. This came after a year in which governments from all over the world printed large amounts of money.
EOS has also been in a very good situation. Indeed, the coin surged above $14 and it was a great moment for those investors that accumulated this coin in 2020 to sell their coins. Of course, this is easy to say now that we know how the market evolved.
After the peak that EOS experience in May 2021, the currency fell and retraced to previous levels (close to $4) and it entered a correction that lasted until today, early 2022. The main question now is to understand how this virtual currency could continue moving forward in the next few years.
EOS Price Prediction TradingView Analysis Updated August 13, 2022
This analyst shows that there has been some volatility for EOS in the last few days. There have also been different support and resistance levels that played a very important role in this digital asset. These support and resistance levels include the following:
These support and resistance levels are important as they could show where EOS can find a stronger activity from sellers and buyers. At the same time, EOS could also closely follow what could happen with Bitcoin and Ethereum in the near future.
This analyst showed that EOS was in a growing trend that started in mid-June and that continued throughout July. Now, the positive thing about this virtual currency is that it tried breaking above the upper boundary of this upward trend and reaching higher price levels. Indeed, the expert believes that the coin could continue to move higher and reach 1.40 USDT in the future.
Nonetheless, the coin has come back again inside the trend and it must break the upper boundary once again. The lower boundary is close to 0.95 USDT, which would mean that the coin would get back to prices seen earlier in July. Everything will depend on how fast the market grows and whether it happens in the coming weeks and months, especially with Bitcoin. BTC is the leading digital asset and it could continue growing in the future.
For this EOS analyst, the price of the virtual currency is ranging in a downtrend after getting rejected from the 2h break at 1.05 USDT per coin. Furthermore, the expert said that the market recently did a market structure break. When he analysed the MACD indicator, he said that it is currently showing bearish weakness, while the RSI is sold and EMAs are turning bearish.
Continuing with his analysis, this EOS expert mentioned that there might be a small retracement from here, but the overall price should keep moving down towards 0.87 USDT. Understanding what could happen with the general cryptocurrency market in the next months is going to be very important for EOS and other virtual currencies. Let’s not forget that these coins follow the general market trend, and therefore, following Bitcoin will become very important for EOS holders and traders.
For EOS/USDT, the analyst says that they are expecting EOS to drop for the final time before a new possible bull market. The price has dropped perfectly and it now can have completed the last bearish wave. As per the expert, this has been a large Wave C since 2021 with 5 waves inside.
It might be possible for EOS to start moving lower and hit a price per coin of 0.62 USDT in the future before starting its new bull market towards 6 USDT or even higher, according to this crypto expert.
Furthermore, the analyst says that it is important to watch for one final drop for the 5th subwave. Now, when the 5th subwave appears, traders should look for bullish pressure on its completion. The targets include 3.6 USDT, 6.4 USDT, 9 USDT and 14 USDT.
The recent sell-off and bear trend that has taken place in the cryptocurrency market has been devastating for EOS, which has seen its price move from 3 USDT in March/April to below 1 USDT a few hours ago. Now, this analyst believes that EOS could start to move higher as it has found strong support in a downtrend channel.
If the coin starts moving higher, then we could see this digital asset get closer to 1.20 USDT, where the analyst shows that there could be a strong resistance level. Then, if this price level is broken upward, we could see this digital asset hit another resistance region between 1.60 USDT and 1.70 USDT, before starting a new move towards testing its previous local highs at 3 USDT per coin, but everything will depend on the general sentiment in the crypto industry.
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)).