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📈 Price Predictions
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EOS price prediction: EOS is crawling to $5 – What Have Bulls Prepared for Us?

EOS price prediction: EOS is crawling to $5 – What Have Bulls Prepared for Us?
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.

Contents

March seems to have been a very lucky period for EOS: it has grown significantly and continues making its way to the top. Will it continue evolving in the short term? Let’s find out what tradingview crypto experts think about it. Read EOS price predictions to find out which trading decisions to make, what to expect from EOS, and which tendencies will rule the crypto market.

EOS is trading perfectly

ABC correction is still possible

 

EOS price chart from ChartChampions

EOS has been trading perfectly for over a month now since it broke up from the ascending triangle on the 18th of February and hit its target to $1. What we see on this chart is perfect Fibonacci relationships with the Elliott Wave count. Although EOS is getting close to another major resistance, we can still enjoy one more wave up before a serious ABC correction.

EOS will reach $5 target

If EOS breaks $4.5 resistance, $5 price is possible

EOS price chart from TradingShot

If we look at the 1-day EOS price chart, we can see there’s an Ascending Triangle. Such strong spikes since February have most of the times turned into sideways trading until the next one (hence holding the Ascending Triangle) with the exception of one (green arrow).

Although things are going pretty well, if EOS stumbles on its way to the top, the $4.00 level can be turned into support. Here’s what user TradingShot says:

“I expect a similar pattern, but if the 4.5417 Resistance breaks, 5.0000 will be my target.”

According to their EOS price forecast for a longer term, EOS will continue being bullish until reaching $8 mark (might happen sometime between May to July 2019).

EOS/BTC – healthy trading is around the corner

EOS/BTC is also in a bullish trend

EOS price chart from WBM_Team

The EOS/BTC trading pair also looks peculiar. WBM_Team has noticed very healthy movements on EOS. The price has broken up the last peaks and there’s a trend reversal on it. The symmetrical triangle could have been observed for 2 times: once it was bearish, and the second one was bullish.

There was a great bounce up till the level of 0.0010800, breaking up all the previous peaks. So, after small correction, the strong bullish mode has been established. Now, to enter safely the position the price has to break up the level of 0.0010800. There are great chances for that.

Possible further price levels are:

  1. 0.0012500

  2. 0.0014000

  3. 0.0020500

  4. 0.0024000

Keep tabs on EOS and don’t enter before we break 0.0010800 for good.

Bears trying to regain control

We can see numerous bull signals

EOS price chart from aboveandphom

EOS continues fighting an impending retracement. Because we keep consolidating at this range after an impulse move, this can almost be classified as a bull flag or a potential bull pennant if you look on lower time frames. How to trade EOS in such conditions? Here’s what aboveandphom recommends:

“I personally like to swing trade, so I’m basing movements off the 4HR charts but lower timeframes like the 15m –which is significant in crypto—tell a different story. Be that as it may, my position remains, but I may close out earlier than $4.05. I am now looking to take profit at $4.20 and then take more profit at $4.10 with the likelihood of re-longing at $4.00. There is still a possibility we move up from here and if that’s the case, I am just going to short at $4.80 even though that may take some time.”

All in all, EOS doesn’t seem to show any bearish signs: slowly but steadily, it moves forward and keeps reaching new heights. Keep track of buy signals and don’t let your profit opportunities slip by.

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/USD price charts on 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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📰 News
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Stablecoins Might Be Considered Securities as US Government Proceeds with Pressurizing Crypto Industry

  • Yuri Molchan
    📰 News

    US lawmakers are intending to take another step against already regulated stablecoins backed by fiat currencies, fearing the rise of another Libra-like currency

Stablecoins Might Be Considered Securities as US Government Proceeds with Pressurizing Crypto Industry
Cover image via www.123rf.com
Contents

Recently, a US lawmaker introduced a bill to the US House Financial Services Committee, in which she proposes regulating stablecoins as securities, thus taking another step towards controlling the crypto industry and its most law-abiding section – stablecoins and their emitters.

The Securities Act of 1933

The other day, a US lawmaker proposed to the House Financial Services Committee that stablecoins should be regulated by means of the Securities Act passed in 1933. As per Rep. Garcia (D-Texas), the sphere of stablecoins lacks regulatory surveillance.

The draft bill states:

“Digital assets, known as managed stablecoins, are investment contracts and therefore are securities within the meaning given the term in section 2(a) of the Securities Act of 1933.”

This draft bill seems to be proposed as a response to the recent situation around Libra currency which brought up strong resistance from regulators, bankers and lawmakers around the world.

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Stablecoin becoming more popular than crypto, causing regulators to react

Presently, dollar-pegged stablecoins seem to be more popular among investors, who store their funds in them when the Bitcoin price descends, to keep their money safe.

Another popular method of using stablecoins (USDT in particular) described by U.Today is about Chinese entrepreneurs. They buy millions of USDT in Moscow to send it back to China and to avoid the capital controls when bringing foreign currency into the country.

Stablecoins, such as USDT, USDC, TUSD, etc, are backed by US dollars legally stored on bank accounts of their emitters.

It is not clear so far, how the bill if passed as a law will impact the circulation and use of stablecoins. However, the bill seems to be an attempt of regulators to tilt the balance in favor of the traditional financial and banking system by restricting the use of dollar-backed digital assets and forcing businesses and retail investors to use fiat currencies and conventional transnational payment systems.

 

What are your thoughts on the attempts of regulators to treat stablecoins as securities? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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