EOS Is on the Verge of Possible Breakout: Cryptocurrency Trader

Libra Coin News
Mon, 10/07/2019 - 06:20
Alex Dovbnya
The EOS price could be on the brink of a big price move, according to technical analysis
Cover image via www.123rf.com

Cryptocurrency trader "Galaxy" has taken to Twitter to inform his followers that EOS, the seventh biggest cryptocurrency is on the verge of a possible price breakout. The token that underpins the first decentralized operating system is trading at $2.96, according to CoinStats data.  

As reported by U.Today, the same trader noticed that Ripple's XRP registered a bullish MACD crossover on the weekly chart, which could lead to a mammoth-size price increase (up to 4,600 percent). As of now, XRP remains the only green coin in the sea of red.   

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The EOS price experienced a substantial price increase on Oct. 1, which was allegedly prompted by its $24 mln settlement with the US Securities and Exchange Commission (SEC). The fine was deemed by many as a slap on the wrist for EOS given that Block.one's ICO managed to rake in a staggering 4.1 bln in 2018.      

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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