EOS Price to Hit $4.19, If It Breaks Above $3.6, Technical Crypto Trader Believes

News
Wed, 11/13/2019 - 10:21
Yuri Molchan
Technical analyst and trader shares a scenario through which the EOS price may rise and hit $4.2 soon
Cover image via www.123rf.com

A trader and analyst @CryptoMichNL has shared a possible scenario through which EOS coin may increase in price and touch the $4.2 level. To do that, it has to get over the $3.6 mark. All prices on this chart are in Satoshis.

At press-time, EOS is trading at $3.48, which means that the milestone mentioned by the trader is very close.

Image by CoinMarketCap

Presently, EOS is one of the top-ten cryptocurrencies, which holds spot number 8 by the market capitalization volume. The network allows developers to create dApps and smart contracts, similar to Ethereum and Tron.

As reported by U.Today earlier, EOS has been ranked coin number 1 in the recent Chinese research paper prepared by the Chinese CCID Research Institute.

Related
Almost $67 mln in EOS Transferred between Unknown Wallets, While EOS Ranked #1 Coin by China

EOS has been evolving to increase the amount of transactions per second on its network. As per its co-founder Dan Larimer, the network has been doing 578 TPS while using just a ‘fraction of its capacity’.

Recently, EOS conducted a major upgrade EOSIO 2. Larimer states that this upgrade has provided a x5 increase in the capacity of the EOS chain.

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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, can be contacted at yuri.molchan@u.today.

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