EOS price analysis and forecast for 2021 – Explica .co

When Bitcoin fell to a low of less than $ 51,000, the entire crypto market played along. EOS couldn’t escape this bearish sentiment and hit $ 5.77. If you want to find out where this cryptocurrency will go in 2021, I have made an analysis and forecast.

At the time of writing, EOS is trading at $ 6.68, down 3.79% over the past 24 hours. With a market capitalization of $ 6.253 million, this cryptocurrency ranks 22nd in the ecosystem today.

The long-term trend is resumed

If we look at the monthly EOS price chart, we find that we are seeing the resumption of a major uptrend that began since the birth of this cryptocurrency and was idle for a long 3 years.

Now that the entire market is filling with positivity, this participant is also taking the opportunity to resume his trend.

After sufficient demand in the USD 2.30 support zone, momentum appears to be developing that should take us much higher.

Price isn’t quite strong yet, but the behavior seems pretty clear: after escaping through a large descending triangle, price is now resuming its long-term trend.

After making some good gains over the past 4 months, the price has just found immediate resistance and the main one is at $ 8.50.

If this supply level is exceeded, we would confirm the resumption of this large uptrend. While the odds are for this scenario, it seems we are going to see some problems before we get around it.

EOS forecast

Like the entire crypto market, this coin is also making a major retreat today. However, given the previous trend, the current decline should not be of concern for those investing long term.

By analyzing the weekly EOS chart, we can make a pretty quick forecast.

The most likely scenario is that we will see the current correction process continuing towards $ 5.5- $ 6. When the retreat completes and we see the bulls putting buying pressure on, the price should start a new dynamic in search of the $ 10.50 low. The next target is $ 12.50.

If so, the resistance at $ 8.50 would also break, confirming EOS forecast of a resumption of the long-term trend, a direction that could lead it to new all-time highs in 2021.

In order for us to contemplate further declines, we must first see a break in support at USD 3.4, a highly unlikely scenario at the moment.

EOS price forecast for 2021. Source: TradingView.EOS price forecast for 2021. Source: TradingView.

All of our publications are informative in nature and should therefore under no circumstances be followed as investment advice.

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