BTC, EOS, TRX Price Prediction: How Long Can the Stagnation Phase Last?

📈 Price Predictions
BTC, EOS, TRX Price Prediction: How Long Can the Stagnation Phase Last?

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.

Bitcoin (BTC) and the whole cryptocurrency market are trying to gain a bullish momentum. However, the altcoins are facing resistance.

Top 10 coins by Coinstats

Below is key data for Bitcoin (BTC), EOS (EOS), and TRON (TRX):

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$132,078,868,319

$7,305.03

$15,585,072,738

-0.22%

EOS

EOS

$2,526,174,814

$2.68

$1,412,870,233

-1.78%

TRON

TRX

$1,014,125,241

$0.015208

$938,521,435

-1.37%

BTC/USD 

The world’s largest cryptocurrency continues to trade sideways without any significant shifts to either a bullish or bearish scenario. 

BTC/USD chart by TradingView

Looking at the 1H chart, BTC rocketed up from the $7,200 mark and has fixed above it. The trading volume remains at its lowest level, confirming the uncertainty of traders on the next movement of BTC. Taking into account the technical indicators, the Bolinger Bands are signaling support around the $7,240 zone. In this regard, traders should consider the resistance at $7,400 as a potential short-term opportunity, where BTC might come back soon.

At press time, BTC is trading at $7,284.

EOS/USD 

EOS has not managed to enter the short-term bullish cycle yet because its rate has been reduced by 1.16% since yesterday.

EOS/USD chart by TradingView

The price of EOS was able to gain a foothold above the $2.5 and $2.6 support levels. However, the momentum is not enough for the price to reach its primary resistance area of $2.850. If it succeeds, the next stop for the buyers could be at $3. Overall, the bulls need to break the triangle pattern in order to confirm the short-term rise.

At press time, EOS is trading at $2.69.

TRX/USD 

TRX is also caught in the downward trend as the rate for this altcoin has gone down by less than 1% .

TRX/USD chart by TradingView

On one hand, TRX’s price is currently hovering above a key support area of $0.0150. On the other hand, the coin meets resistance near the $0.0158 and $0.0160 levels. A successful close above the $0.0160 resistance level could lead the price to the $0.0165 and $0.0167 areas. As a whole, the bulls are likely to seize on the short-term initiative, which is confirmed by the Moving Average Convergence/Divergence (MACD) indicator showing a reversal on the 4H chart.

At press time, TRX is trading at $0.01539.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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