The EOS to USD trading pair is trading in range with supply zones at $9.5, $9.0, and $8.5 and demand zones at $8.5, $8.0, $7.5. The price of EOS was trading in range almost throughout the month between $6.5 and $9.0. After starting the month at $8.2 and the bulls took over pushing the price all the way to $9.15. Later on, the bears came into the market and pushed the price down to $6.7. After that, the price went up in favor of the bulls rising to as high as $8.8. At the time of writing, it was trading at $8.3.
EOS Technical Analysis For July
The signal line and MACD on the price charts show that the sellers are on the way to the market. Also, the 26-day EMA and the 12-day EMA are above the EOS price bars. This indicates that there is a bearish wave in the market. The relative strength index is around 44 indicating that the price is going sideways. Just like other cryptocurrencies, EOS had significant gains this week.
EOS Price Today – EOS / USD
The 5th largest cryptocurrency per market capitalization has been at the vintage point of speculators. Several controversies have flooded the EOS community ever since the Mainnet launch. The troubles are not yet over as new issues have risen.
The EOS network is a platform for decentralized apps. However, there are over 140 decentralized apps on the EOS blockchain that cover different sectors. Even if most of these apps are linked to EOS, they are using their own open-source technology for the projects. These apps require a sizeable amount of RAM for operations and new registration is the most demanding activity. These RAMS can be purchased on the EOS RAM market but the price of RAM is extremely expensive. RAM cost is the new issue for developers. EOS authority is making plans to fix this issue but the votes to increase the RAM capacity hasn’t been increased.