• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Opinion / Market Analysis / EOS price analysis for May 29th, 2019: The new price is a real thing
EOS price analysis

EOS price analysis for May 29th, 2019: The new price is a real thing

May 29, 2019 by Saeed Ul Hassan

During last Sunday, at 16:30 UTC approximately, EOS started to rise. It went as high as USD 7.02, and it’s sustained that level since then. It’s gained 2.3% in the last 24 hours and 29.41% in the previous seven days, so the weekend was great for EOS holders. Let’s see today’s technical analysis and figure out how much better it can get.

24-hour technical analysis

The current price is at USD 8.13, and there is no clear trend right now. The Bolliger bands have narrowed down a lot because the price has remained basically stable at the USD 8,00 level for quite some time now.

That being said, things look good. The price is above the market’s pivot point (6,669), and there’s a slow upwards movement towards the first resistance level at 8,1283. That first resistance level has been quite significant during the day because even as the price surged over the last hours, it went as high as $8.13, but it’s remained around there, moving sideways. You could say that the bulls have been pushing to reach the first resistance since 21:00 UTC yesterday but haven’t managed to get there.

The good news is that significant trading volumes accompanied the increase in price, so the new price is a real thing and chances are that it’s not going to go back down any time soon.

EOS price analysis
Source: CoinMarketCap.com

In the daily scenario, every technical indicator and every moving average is in deep green numbers. So maybe you won’t get rich by trading in EOS today, because it could be stuck at the resistance level for a while, but at least chances are you won’t lose either.

Monthly technical analysis

The monthly scenario is more encouraging in some ways because the EOS price has already broken the first two resistance levels. The third one is at $9.6192, which is a long way up. The monthly information, combined with the 24-hour technical suggests that real resistance is not really at the current levels but at USD 9,6192, which, in turn, also indicates that EOS is not likely to go down and that it could still go up by something like 50 cents in the next few hours.

The market is 86% bulls.

So the event of the day would be to see the price reach and overcome the $8.5 resistance level. If that should happen during the next 24 hours, then we could see another surge comparable to Sunday’s one. It’s anybody’s guess how likely that is, but there’s momentum in the market, and the third monthly resistance level allows for enough space for that since in that context two resistance levels are already behind us.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Filed Under: Market Analysis Tagged With: EOS, Price Analysis

Primary Sidebar

Recent Posts

  • Bitcoin ATM Giant Coin Cloud Seeks Bankruptcy Protection With Up To $500M In Debts February 9, 2023
  • Robinhood Aims To Take Back $578M of Sam Bankman-Fried’s Stake February 9, 2023
  • Ban On Ethereum Staking Would Be “Terrible”-Coinbase CEO February 9, 2023
  • Kraken Under SEC Scrutiny, Crypto Exchange Accused Of Securities Violations: Report February 9, 2023
  • 11 Years Dormant Bitcoin Wallet Reawakens With $9.5M Gain: A Forgotten Fortune February 9, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.