EOS Price Prediction for 2023: Downward trendline leads EOS below $1 psychological support

Content

• EOS/USD Price Forecasts
• Forecast Summary
• EOS/USD Live Chart
• Price Prediction for the Next 5 Years
• EOS/USD Technical Analysis

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MARKETS TREND The market trend factors in multiple indicators, including Simple Moving Average, Exponential Moving Average, Pivot Point, Bollinger Bands, Relative Strength Index, and Stochastic.

BUY EOS

By 2023 it was ranked 49 in the crypto industry and its growth has been vast. Despite being affected by the 2022 crypto fallout, it still stands among the trade list due to its well-built community called the EOS network.

The current price prediction of EOS to USDT trades at $0.861996 and by May 25th 2023 it is expected to decrease -0.74% from the previous price. However, by the end of the year 2023, EOS to USDT is highly expected to trade at an average of $1.14 and not less than $1.10. This shows that high possibility of getting to its roots of $2.77 as experienced in 2021.

By 2026 EOS will have surpassed its original trade price and trade at an average of $3.66. The trends show that an increase in price will be experienced resulting in good fortunes. For instance, the price prediction of crypto at a high rate will be escalating depending on the nature of the coin. Like any other coin EOS experiences similar changes.

Taking the prediction made over the next three years, 2024, 2025, and 2025, by 2030 trade demand for EOS will be at an advantage of growth. Less price drop is expected by that year. Therefore, at a high rate, EOS is expected to trade at a maximum rate of $18.59 which will be a drastic increase. With an average of $15.37 by 2030, EOS will be at a great advantage if one trusted the coin today.

EOS/USD is trading at $6.4 level, exhibiting a robust bullish reversal after dropping from its all-time high level of $23.02. Considering the past six months’ performance, the pair has gained +$3.9, soaring massively by 154.12%. Simultaneously, EOS has added +$3.9 to surge by 187.55% over a year. Currently, the EOS/USD Live Price chart suggests that it’s trading at $ 6.4. The cryptocurrency market exploded back in 2017 and 2018 when the price of almost every asset hit an all-time high (ATH) after investors’ interest expanded and new cryptos flooded exchanges. The rise in investors’ interest pushed Bitcoin’s value above $20,000, and XRP’s price grew by about 36,000%, while EOS also broke its record and reached $23 after raising over $4 billion during its Initial Coin Offering (ICO).

EOS is a third-generation cryptocurrency like the other assets that entered the market during the crypto-boom era. Brendan Blumer is an American entrepreneur, executive, and investor. He is the CEO of Block. one, the tech company producing the EOS.IO distributed ledger software. Just before the gold rush for cryptocurrencies, EOS entered the market and had a great run in the first months of its life. Being a third-generation digital currency gave it an advantage as the founders learned from the mistakes of previous generation cryptos like Bitcoin, Litecoin, and Ethereum. EOS has the same blockchain as the second-largest cryptocurrency of the world by market cap, Ethereum. However, ETH can only handle 15 transactions a second, while EOS can process thousands of payments at once.

The advanced efficiency and scalability of the EOS make investors more dedicated to this platform. EOS has a market capitalization of around $6.44B, and it stands at 22nd position in the list of cryptocurrencies by market cap as of 6th April 2021. Let’s take a look at the EOS price prediction for 2021 and the next five years to answer whether EOS is a good investment or not.

Recent Changes in the EOS/USD Price

EOS is much like Ethereum as it is a decentralized blockchain platform that facilitates the use of decentralized apps (DApps) and smart contracts. The blockchain of EOS is also known as EOSIO, a platform used to build new DApps. Developers of DApps also receive block rewards while building on the EOS blockchain (EOSIO). Recently, EOS has caused many heated discussions in the crypto market as it has competed with the world’s second-largest cryptocurrency Ethereum. The record-breaking ICO of EOS gained much attention from the media due to its functionality as its platform EOSIO has a unique feature of excluding transaction charges. It means that unlike Ethereum, EOS has no transaction fees and can process thousands of transactions at once.

Due to its multibillion-dollar ICO, EOS got listed on most exchanges within just a few days of its launch. In 2018, EOS/USD rose to its all-time high of $23 amid increased interest of investors. However, the prices didn’t remain there for long and started dropping. Since then, EOS has been in a bearish trend except for February 2019, when the prices rebounded from $2.2. This price hike continued till June 2019, when it hit $9.89 and then reversed its trend to the negative side. Since then, the prices remained under consolidation throughout 2020. However, the start of 2021 proved to be beneficial for EOS and other cryptocurrencies as well. Since January 2021, EOS prices rose from the low of $2.3 and have reached $6.7 in April.

The increased adoption of cryptocurrencies by big institutions and the increased popularity of smart contracts, DApps, and NFTs have raised cryptos prices to all-time highs. Given the recent situation and environment surrounding the crypto market, we can say that EOS has a bright future ahead. Let’s take a look at the factors that are expected to affect the price of EOS/USD in the near and long-term future and how these factors will affect its prices in the years to come.

Factors Affecting EOS/USD

The EOS/USD pair is exhibiting strong bearish bias since May 2021, dropping from $14.76 level to $3.7 level. On the technical front, the pair is trading sharply bearish at $3.68, holding below monthly 20 and 50 periods EMA resistance levels of $4.01 and $6.3 levels, respectively. The leading technical indicators, the MACD (Moving average convergence divergence) and RSI (Relative Strength Index), are exhibiting a bearish trend in the currency pair.

On the monthly time-frame, the MACD and RSI are holding in the selling zone, exhibiting a solid selling trend in the price. EOS/USD is on the verge of closing another bearish candle that may extend selling trends until the $2.7 level.

EOS/USD – Monthly Time-frame – Upward Trendline to Suppprt at $2.77

On the monthly time frame, EOS/USD is heading lower towards $2.77 support level, and the upward trendline is likely to provide support at this level. However, the breakout of this level has the potential to load EOS price further lower towards the next support area of the 1.9118 level.

The chances of a bullish reversal remain strong above $2.77 level unit next resistance level of $6.8. Bullish breakout of this resistance can lead the EOS/USD coin towards the $8.6 level.

EOS/USD  – Weekly Time-frame – Choppy Trading Sessions

The EOS/USD pair has entered the selling zone at the $3.6 level on the weekly timeframe, and it has strong odds of a bearish trend continuation until $2.70. The series of exponential moving averages are also suggesting selling trend in the pair. These exponential moving averages are holding around the $4.03 level, suggesting bearish opportunities in the pair. The pair may find immediate support at the $2.77 and $1.90 area, and the violation of this level can lead it towards the $1.09. The weekly RSI and MACD indicators support a selling trend.

Since the MACD has started forming smaller histograms than the previous ones, the odds of a bullish correction remain solid over the $2.77 level. On the higher side, the EOS/USD coin can face resistance at $5.5 and $8.6 levels. Good luck!