Price Analysis for EOS: EOS/USD Long-term Trend is Bullish

WEISS CRYPTOCURRENCY RATINGS  Beware of Fork Coins; Cardano, EOS, NEO Commendable

Larger players will always have an advantage over retail traders because they have the funds and resources to manipulate cryptocurrency prices. Many crypto investors have complained against the manipulation of prices because it hurts small investors. If the Department of Justice can identify and prosecute these culprits, it will benefit cryptocurrencies immensely in the long-term. Other traders generally agree that these government crackdowns that have been initiated in recent weeks will positively influence the market.

A study published by Weiss Ratings indicates that if the United States Federal Reserve dilutes the “Volcker Rule” (a regulation that restricts banks from acquiring risky assets to make profi), Americans are likely going to turn to digital currencies as a means of exchange. Considering the flow of recent positive news in crypto markets, we can see that EOS and other cryptocurrencies have been bullish. But we are still waiting for the best opportunity to buy. This is primarily due to the high volatility of digital currencies. Investors will want to identify any risks before buying in the current framework.

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Price Analysis for EOS/USD

Despite a notable decline in EOS’s value this week, its trend appears to be bullish. The bulls had lost strength on the bears as at May 21. However, prices seem to be on the reverse against the bears. A substantial bullish Japanese candlestick formed on May 24. There hasn’t been any strong move against this bullish candlestick.

As for the 13-day SMA, prices have moved southward toward the 50-day SMA beginning from the top. EOS/USD has traded strictly near the point where both SMAs met. Stochastic Oscillators have since dipped into the oversold region and they are pointing northwards under range 20. Any possible southward movements in EOS prices can result in panic sales.

SEE ALSO:   June 20 Price Analysis for Litecoin (LTC), Tron (TRX), EOS: Is the Cryptocurrency Market Still Experiencing a Bearish Wave? (Crypto News Today)

The bulls have now started gaining more catalysts in crypto markets to support their upward pattern. Traders can follow this selling move if price actions tend to fall. However they should apply proper money management guidelines.

 

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