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EOS Price Might Hit $8.2 After Correction — Check Out Forecasts & Trading Tips for Maximum Gains

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EOS Price Might Hit $8.2 After Correction — Check Out Forecasts & Trading Tips for Maximum Gains
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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.

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The current week has been full of ups and downs for EOS, and we’re all eyes on the cryptocurrency, waiting for the next turn. The golden cross didn’t play out positively, and EOS is going through a correction. When and how should it end? Check out EOS price predictions from tradingview users to find this out.

A downward correction is in process

EOS correction is natural

EOS is clearly making a downward correction. However, things could be worse. If the price had broken out the corrective structure and closed below $6.0050, we would expect a continuation of the downward movement towards $5.370. That didn’t happen, so we should expect EOS to go higher.

Generally, weekly technicals are as follows:

  • The EOS price is in the ascending channel.

  • The price successfully surpasses the major support/resistance levels, which is the key aspect for the bullish period.

  • We should expect a correction on the bullish movement. It’s okay to see corrective structures and impulsive waves.

Based on the current price trends, we should expect bullish movement to $8.

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Technicals & buying tips

Check out buy levels

The user ssari came up with an observation of EOS performance and key markers. The overall performance in price and pattern is significantly positive. It is also very symmetrical and continues to be so. Also, EOS gains over BTC (refer to the chart approx. 190% gain over USD and 80% gain over BTC at its peak) should be noted. Moving forward in this bullish trend, it makes sense to buy EOS and BTC at certain times.

Refer to the EOS\BTC pairing chart and these technicals:

  1. In a channel as per the diagram and is now consolidating, downwards.

  2. We have hit its highest point (end of wave 5). Refer to previous post results.

  3. It's going down as like BTC, as it consolidates to the GREEN box, Buy Zone.

  4. The fib circles are still playing their part nicely. Orange ring the support ring.

  5. The red line is the 200 Daily EMA and is heading upwards towards the green zone, on the way confirming if it’s a good level to buy. 20 EMA on the daily is still acting support.

  6. BTC dominance is to still drop more. Keep tabs on the EOS/BTC pairing chart and the BTC dominance chart in conjunction with the EOS Chart: it can help you maximize the holdings.  

  7. EOS has a little more to drop against BTC before it hits the support line for a reversal. Need to keep an eye on this, going long.

  8. RSI on the daily > 55% and dropping, indicating by form, to the down side.

  9. MACD on the daily > indicating to the down side.

  10. Daily volume average > dropping.

If the correction plays out positively, we might see EOS hit the $8.2 target!

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EOS is back to $5.70

Golden cross failed to boost EOS price

The user Slope_Trading recently posted the EOS price chart showing us the golden cross to be finished. There were two scenarios: break above pitchfork slope, meaning we target previous highs on May 16, while a break below the trend would mean that the median line is a target.

The second scenario played out, but EOS doesn’t hurry to hit $5.70. Instead, it’s moving up and continues strengthening its positions slowly and steadily. Probably, it’s immune to the upcoming bearish wave.

Final thoughts

EOS has all chances to reach $8 in the nearest days and weeks, so you can either buy it now or wait for a small correction and buy below $6. Yet, no one guarantees it can hit $8 if it falls further.

EOS price charts are taken from TradingView

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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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Ripple's Partner Wants to Transform Gaming Industry with XRP

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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
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San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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