BTC$47 909.19


ETH$3 403.28




Binance Coin






EOS: the Picture Gets Clearer


It appears that the initial panic that had engulfed all markets without exception has passed being replaced by the relative stability, or at least a lack of jaw-dropping volatility that we saw in mid-March. This period of relative quietness has also offered an opportunity to take a breather, analyze the bigger picture and assess the macro levels that began forming on cryptocurrency markets - EOS in particular - after this cryptocurrency crashed through all possible support levels to arrive at the three-year low at $1.35.

Market collapse as a part of a downtrend

Nevertheless, once the price has bounced off the bottom - or an interim bottom, if the situation on the global markets keeps worsening - and made a partial recovery, traders must have realized that the notorious downfall turned out to be just another lower low of a downtrend that stems from the massive bull rally of 2019.

1-week EOS/USDT chart

It is evident from this weekly chart that the bottom at $1.35 turned out to be an accurate lower low that falls perfectly in line with the macro downtrend and should have been anticipated by the more seasoned traders.

Certainly, we shouldn't defy such factors and looming global recession, stimulated by the ravaging coronavirus, but the fact remains that we have been trading in the context of the bear market of 2018 all along, and that the crypto winter is yet to pass.

In any case, this situation should teach traders not to be deluded by the occasional bull rallies.

On the other hand, those coins, including EOS, which haven't established the all-time lows - EOS's happen to occur in 2017 at $0.48 - maintained the overall trend structure and proved their resilience even in such traumatic times like these. The crash could also be perceived as a great screener for the most reliable cryptocurrencies, towards which traders should establish a bullish stance in the long run. Needless to say that EOS has so far deserved a place among such cryptographic assets.

But what of the upcoming price action of EOS? As we can see on the chart, the price is approaching the upper line of the strong pattern that is the descending triangle, so traders should anticipate either its breach to the upside or the continuation of a squeeze to the bottom corner that could even take the price to $1.35 again. In any case, that would constitute a healthy movement by EOS that lies within the framework of the ongoing downtrend.

If the move to the upside does take place, it is probably going to reach 0.236 of Fibonacci that coincides with the level of $3. This way, EOS would fully recover from the losses inflicted by the market crash, but the following retracement is to be expected. Therefore, $3 is a crucial level that has to be watched closely in the future.

However, the probability of EOS going to the downside is much higher as the global economy is only entering the recession that would drag the cryptocurrency market along to the deeper depths. But in the current circumstances, it ought to be perceived as normality. Such vital indicators as MACD and RSI are both bearish, which means that those who want to lock their profits at this stage, should pay close attention to stop-losses.

Author: Alex Paulson for


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 87.6% 18 $47 909.19 1.25% 6.49% $901 641 061 708 $28 050 036 805
2 Ethereum (ETH) ETH Ethereum predictions 74% 50 $3 403.28 -0.03% 4.43% $400 159 822 847 $15 622 649 240
3 Cardano (ADA) ADA Cardano predictions 70% 67 $2.35 0.60% -7.85% $75 357 799 161 $2 088 968 420
4 Binance Coin (BNB) BNB Binance Coin predictions 63.6% 70 $407.56 0.47% 1.25% $68 526 382 470 $1 286 561 409
5 Tether (USDT) USDT Tether predictions 91.2% 1 $0.999719 -0.01% -0.08% $68 273 294 138 $59 325 016 988
6 Solana (SOL) SOL Solana predictions 56% 90 $169.00 15.95% -4.00% $50 188 146 941 $5 525 090 300
7 XRP (XRP) XRP XRP predictions 69.2% 60 $1.069665 -0.34% 0.13% $49 870 165 652 $2 257 392 576
8 Polkadot (DOT) DOT Polkadot predictions 63.2% 81 $33.88 2.15% 6.78% $33 459 890 032 $1 816 386 745
9 Dogecoin (DOGE) DOGE Dogecoin predictions 62% 75 $0.239076 -0.82% -0.97% $31 399 746 530 $979 904 892
10 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $0.999641 -0.02% -0.06% $29 376 366 391 $2 105 784 383
11 UniSwap (UNI) UNI UniSwap predictions 68.4% 63 $24.35 0.43% 8.39% $14 893 602 037 $286 321 085
12 Avalanche (AVAX) AVAX Avalanche predictions 68.4% 69 $67.04 -5.17% 18.67% $14 768 791 649 $1 846 054 630
13 Terra (LUNA) LUNA Terra predictions 66.4% 64 $34.44 -1.18% -11.44% $13 834 117 320 $717 648 404
14 Binance USD (BUSD) BUSD Binance USD predictions 92% 1 $0.999598 -0.01% -0.06% $12 808 404 518 $4 836 734 186
15 Chainlink (LINK) LINK Chainlink predictions 73.6% 52 $27.94 0.69% 4.33% $12 672 882 341 $1 023 457 767

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