[updated August 15, 2019] — EOS is only beginning its journey. It 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 $3.61 after a -10% change in 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 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.
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.
Technical Outlook on EOS Price
The analyst says EOS is showing a strong support in the zone of 0.000620 BTC – 0.000665 BTC. Moreover, on the 2H time-frame, we can see a local double bottom, and in case the price dumps to 0.000620BTC, we will even see a bigger double bottom pattern. If we take a look at indicators, we will see a convergence on RSI and oversold on Stoch. RSI. The “final” target of an ascending movement is 0.000840 BTC.
The analyst says EOSBTC is Moving in uptrend channel. There is a Potential breakout resistance line of the triangle. Next station 38.2% Fibonacci level 0.00122. After 50% Fibonacci level 0.00146. Now is above MA50,100,200.
QuantumHF says there are good prospects for medium-term purchases in the range 0.00063-0.00055. Investors can set Stop price at 0.00047 with the target level at 0.00165.
The analyst says Eos was an easy forecast; now the pattern is almost complete, so we wait for a lower consolidation in the slower time frame for the big move up over $10.
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)).