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EOS Is on the Verge of Possible Breakout: Cryptocurrency Trader

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    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.      

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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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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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