EOS price analysis: EOS/USD lags reaction as the community celebrates EOS mainnet going live, over 150 million tokens staked for voting
|- For the mainnet to go live it required 15% which translates to 150 million tokens of the total tokens to be staked for voting.
- EOS price is trading at $10.88 supported by the short-term bullish trendline.
EOS has sustained an uptrend after the overarching declines that had it trade marginally above $9.00. EOS surged from the demand zone at $10.00 and broke above the critical resistance at $11.2 and $11.6 yesterday. The crypto, however, engaged reverse gears on Friday dropping by 5.68% on the day. The support zone at $11.2 - $11.00 failed to hold as the bears called for equilibrium. At the time of writing, EOS is trading at $10.88 supported by the short-term bullish trendline.
EOS blockchain has been one of the most anticipated events in the crypto industry. Moreover, as with major projects, EOS mainnet had a share of its challenges, although some will prefer to call them delays. That aside, for the mainnet to go live it required 15% which translates to 150 million tokens of the total tokens to be staked for voting. The good news is that 177 million of the total EOS tokens have been staked by token holders and this number validates EOSIO to go live.
Technically EOS is supported at $11.5 while it is trading below the moving averages. The MACD in the negative region to signal that price will continue being bearish in the near-term. The 100 SMA is preventing gains on the upside, but the former support at $11.2 will open the door for additional gains towards $12.00.
EOS/USD 15-minutes chart
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