EOS Price Gets 11% Boost Daily But a Short-term Correction Rally May be on the Way 

According to the price analysis of Tanya Abrosimova from FXStreet, EOS, one of the largest cryptocurrencies in the market that, is set for a correction rally. The price correction has been ongoing for some days now but may have been capped by sellers at $9.00. Irrespective of the downside price correction rally the cryptocurrency experienced after reaching highs of $9.30 in Asia, it is still gaining 11% or more on a daily basis.

EOS Price Analysis as Cryptocurrency Market Recovers

The boost in price isn’t limited to EOS alone. The entire cryptocurrency market has been experiencing a commendable rise in price. This general positive sentiment in the market is part of the reason why EOS recorded significant gains. EOS is currently overbought trading with a market value of $7.8 billion. The trading volumes is around $970 million and the price is around $8.83 with significant bullish sentiment.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$1.82
-5.67%

From the intraday picture, the market still has a bullish sentiment. It is above the 50 and 100 SMA. The 100 SMA is at $7.6 and the 50 SMA is at $8.2. Unfortunately, the recovery is capped at $9.00 short term. The next resistance after $9.00 will be $9.3. If the price of EOS breaks this point, there might be an upside extension all the way to $9.88 and even $10.00.

Block.One Prepares for Hackathon

While EOS gets a boost in price, it’s launcher, Block.One is preparing for a hackathon. The hackathon is scheduled for August 4-5 and it will take place in Sydney. This hackathon will be the second in a series of global blockchain hackathons. In these hackathons, team developers on the EOSIO platform will battle for the ultimate price which is currently $500,000.

Block.One’s Rob Jesudason said:

“We at Block.One see Sydney, and Australia as a whole, as a crucial market for the blockchain industry. We are happy to bring our EOS global hackathon to Sydney. We look forward to working with exceptional developers.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.