EOS price analysis: EOS/USD waits patiently for the storm to clear before breakout as Block.one encourages entrepreneurs to explore EOSIO software
|- 1.0 Version of the software will be made available on EOSIO GitHub repository.
- EOS/USD is down 1.91% on the day, while the major support is at $12.40.
EOS has kept the support at $12.00 for a few days, although upside movements have been restricted below $14.00. The attempts by the buyers to push past the descending trend line on the charts have been met by increasing selling pressure. EOS/USD seems to be consolidating in a range between $12.5 on the lower side and $13.2 on the upper side.
EOS mainnet launch this coming month is one of the events in the cryptocurrency market that is highly anticipated. The release of 1.0 version of EOSIO software will mark the end of the ICO that has been running for over one year. Block.one has recently released a statement to urge and guide the use of the software for commercial support. 1.0 Version of the software will be made available on EOSIO GitHub repository. A section of the official communication by Block.one reads:
“Entrepreneurs interested in building their own blockchain derived from our EOSIO software can fork our repository and customize it for their use. This customization can include configuring token supply, initial distribution, default seed nodes, token symbols, and more.”
EOS price is currently trading at $12.7, while it is down 1.91% on the day. The 50 SMA is offering resistance above $12.7 while more resistance will be encountered from the 50% Fib retracement level with the last swing high of $13.87 and a low of $12.00. On the downside, another retracement is supporting the price around $12.71 zone. The 100 SMA will also support the price further down close to $12.50. However, a stronger support area is highlighted at $12.40.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.