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EOS Price Is Approaching $3.40 Resistance Level. Traders Explain What Happens Next

  • Vera Yurina
    📈 Price Predictions

    EOS price will touch $3.40 target soon, but what’s next? EOS price predictions are discussed by TradingView users

EOS Price Is Approaching $3.40 Resistance Level. Traders Explain What Happens Next
Cover image via u.today

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.

EOS is keeping around the $3,1 level without any serious fluctuations, but traders are hoping for changes in the nearest future. Will EOS be able to enter the bullish period, or is to follow the altcoin market trend and stay on the current position? Let’s see what TradingView users think about it: read EOS price predictions.

EOS price will enter the target zone soon
EOS price chart by TradingView

EOS price is currently sitting at the support trend of a channel. The RSI step trend is printing a Buy-Signal soon. So, our Buy Zone is located at the support zone from $3.07 to $3.12. The target price is located at the resistance zone from $3.35 to $3.40, and stop-loss is located at $3.03. The $3.40 resistance zone is expected to be hit during this week.

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What’s next?

EOS 2x profit opportunity
EOS price chart by TradingView

If we cast a look at the further future, we can predict that EOS price might even double in the nearest weeks. It can be proved by the following technical indicators:

  • Forming a falling wedge in daily timeframe with bullish indicators.

  • Volume is decreasing so it might change the trend in the coming days.

So don’t miss this trading opportunity: grab it and stay patient. Buy EOS between $2.6 - 3.1, the sell targets are $4.2 - 5.6 - 6.4, while the stop loss is below $2.4.

What you must do is watch the market because the trend might change at any time. EOS price has formed a buyer exhausting candlestick pattern topping out at 4 hour 200 EMA resistance. There’s also a bearishly divergent higher high on the hourly at $3.27.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?

  • Denys Serhiichuk
    📈 Price Predictions

    Analyzing the reasons for today’s cryptocurrency market decline

TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?
Cover image via www.tradingview.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.

November 22nd started with a huge market dump as Bitcoin, the top cryptocurrency, lost nearly 10% of its value since yesterday. The altcoins have also followed today's downward trend, as the top 10 coins are all located in the red. 

Top 10 coins by Coinstats

Here is key information about Bitcoin (BTC), Ethereum (ETH), and XRP (XRP).

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$129,201,282,733

$7,153.53

$29,610,280,555

-9.95%

Ethereum

ETH

$16,292,927,175

$149.96

$10,741,686,263

-11.77%

XRP

XRP

$10,151,900,406

$0.234456

$1,818,796,100

-4.67%

BTC/USD 

Our BTC prediction from yesterday came true as the price has almost reached the expected $6,875 mark.

BTC/USD chart by TradingView

Today’s sharp price drop for the leading crypto has more to do with a fundamental reason than a technical one. This mainly happened because of China's policy to ban any providers of crypto transactions to its citizens.

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Looking the 4H chart, BTC has updated the bottom by touching the $7,000 mark. It is unlikely to go any deeper according to the Stochastic RSI and other indicators because they are showing that BTC is oversold. Meanwhile, the $7,500 mark will be retested soon as this previously served as a support level for BTC. A bounce back might occur through the end of the current week.

At press time, BTC is trading at $7,114.

ETH/USD

Compared to BTC and XRP, ETH has faced the biggest price drop (more than 11%) since yesterday.

ETH/USD chart by TradingView

Even though ETH has lost significant value from its shares, it is more likely to return to its previous positions faster than BTC. The last bearish candle has a long wick, which suggests that sellers could not fix the rate below $150 for a long period of time. Moreover, the coin is oversold on all time frames, especially the daily ones. Respectively, this chief altcoin could come back to the $155-$160 range soon.

At press time, ETH is trading at $149.74.

XRP/USD

XRP has shown the best price dynamics against the market decline. While the majority of altcoins have lost about 10%, the rate of the third most popular crypto has been reduced by 5%.

XRP/USD chart by TradingView

XRP has more than justified our previous scenario as the rate has gone far below the $0.24 mark. In terms of a short-term price projection, it is bullish as sellers have almost sold everything, giving a chance for buyers to accumulate positions before an additional decline against the bearish market. To sum it up, a bounce back could push the price up to $0.2450. 

At press time, XRP is trading at $0.2323.

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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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