What do push EOS up?

If we consider the dynamics of EOS from the point of view of technical analysis, then we can state that the development of a stable uptrend continues, says Dmitry Gurkovsky, a leading analyst at RoboForex. We see that the quotes accelerated growth on the 4 hour chart and overcame the upper limit of the previous corridor, approaching the level of 50% ($ 8.52) on the Fibonacci scale relative to the previous long-term decline wave. The formation of a divergence is observed on the chart of the MACD indicator, which may signal a future reversal of the trend. After reaching the target level of $ 8.52, we should expect a decline to local support by $ 7.32, and after its breakdown we can expect another wave of decline to the support line of the previous growth channel – the level of $ 5.44.

The Stochastic indicator has formed a “Black Cross” in the overbought zone on the 1 hour EOS timeframe, which can serve as a signal of a short-term decline to $ 7.32. After testing it, the growth impulse will be directed to the target mark of $ 8.52.

EOS shows itself very well this year. This morning it touched a maximum since the beginning of the year, but then corrected. What pushes cryptocurrency up beyond general optimism in the sector?

Back in March, EOS Technical Director Dan Larimer reported on an important event scheduled for June 1. Only the place is known – Washington – and the date is nothing more. There are several versions of what to expect from a roadmap to the release of new trademarks, updating release cycles and codes for a wallet.

At the beginning of the year, Block.One repeatedly hinted about upcoming new applications. Maybe we will see something completely new on June 1 or maybe an EOS protocol update will be presented, which would also be nice. This is expected in the market.

If at the beginning of the year, EOS trading volumes were estimated at about 630 million dollars, now this figure is much higher – about 5 billion. EOS by the end of May is located on the fifth line in the rating of the most popular and stable cryptocurrency with a capitalization of 7.1 billion dollars.

Forecasts of financial markets are the private opinion of their authors. Current analysis is not a guide to trading. RoboForex and ihodl are not responsible for the results of work that may arise when using trading recommendations from the submitted reviews.