FxWirePro: EOS/USD recovers slightly ahead of MainNet launch, good to buy on dips
Wednesday, May 30, 2018 11:10 AM UTC
- EOS/USD has jumped almost 28% in the past two trading session as Main Net launch date nearing from the low of $11.74 level. Since 2017 EOS block chain operates as a smart contract platform, catering to decentralized application. Block.one the developer behind EOS has already raised a record breaking $4 billion by selling more than 900 million ERC-20 tokens in the yearlong coin offering launched Jun 26th 2018.The token that have been distributed will be transferred to MainNet EOS.IO is to be launched at 03 days 11 hour from now. The main net is scheduled to go live in 40 days and big exchanges like Bitfinex, Huobi and eToro has extended their support for EOS. EOS currently ranked in 5th position by Marketcap and jumped 1.65% today. It is currently trading around $12.40.
- The pair has taken support near 100- day MA and shown a minor jump from that level. The near term resistance is around $13 (trend line resistance) and any break above will take the pair to next level $14.40/$15.50/$18.28 (61.8% fibo).
- The major support is around $10.02 (100- day MA) and any convincing break below will drag the pair till $8.91 (200- day MA). Major weakness only below $3.87.
It is good to buy on dips around $11.80-$12 with SL around $10 for the TP of $20/$23.