EOS Faces A Bearish Resistance As Block Producers Vote To Increase RAM Capacity 

Yesterday, the price of EOS entered a bearish trend falling to a low of $8.1 after days of trading in the bullish territory. This level was above the range-bound levels of $6.5, and $8. Since the price of EOS is outside these range-bound levels, it may rise soon. If you’re a long-term trader, this would be a good time to initiate long trades. The signal line and MACD serve as buy signals. The price of EOS is currently below the 26-day EMA and the 12-day EMA. This shows that the bearish trend would continue short-term. However, the relative strength index is near 44 indicating that the price action is sideways.

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Price Of EOS Against The USD

The EOS to USD pair is bearish and the signal line and MACD line are right below the zero line which is a sell signal. Also, the price of EOS is currently below the 12-day EMA and below the 26-day EMA indicating that the bears are in control of the market. This is according to the price analysis of Azeer M.

EOS Block Producers Cast Votes To Raise RAM Supply In A Bid To Reduce The Cost Of Running DApps

Account opening and app creation on EOS may no longer be expensive with the new proposal by EOS authority. The EOS block producers have decided to increase the RAM supply of the network by 100%. The RAM price is what determines the flow of demand and supply on the network and the prices have been spiraling out of control since June. This has made things difficult for developers who want to build apps on the platform and users who want to create accounts.

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EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$4.69
7.71%

Due to the increasing price of RAM on the EOS network, the block producers have voted to add a new RAM to the EOS network. This is the first time such a thing would happen on the network. The RAM capacity of the EOS network will increase to 128GB as opposed to the current capacity of 64GB. The resolution has been approved by 15 block producers so far.


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