• EOS founder whats to create a new better coin.
  • EOS project is not abandoned, unlike other blockchains, initiated by Larimer
  • EOS/USD depressed despite the short-term recovery.

EOS is one of the worst-performing digital coins out of top-10, nursing over 10% losses in recent 24 hours. EOS/USD managed to recover from early Asian lows at $2.30, and it is still marginally in red as compared to Tuesday's opening levels. 

Meanwhile, at the end of the previous week Block One's CTO Dan Larimer announced the decision to launch a new cryptocurrency project MonerEOS.  The new hypothetical token will be immutable and non-programmable; what's more, it will function solely as a currency with no additional roles. 

The announcement was made via Telegram channel, where Larimer listed 13 features of the MonerEOS token and denied the speculations that he was going to leave the EOS project.

It is worth mentioning that Larimer is a serial blockchain creator. He co-founded DAO BitShares and Steemit, though left both projects under different reasons. 

EOS's technical picture

From the longer-term perspective, EOS/USD is capped by SMA50 (4-hour) at $3.00. Once it is cleared, the recovery may be extended towards the next crucial resistance at $3.50 with SMA100 (4-hour) on approach. Then comes $4.00 and $4.7 (DMA50).

On the downside, the support is created by Asian low at $2.30. A sustainable move lower will expose 2.0 and 1.9, which is the lowest level since December 2017.

EOS/USD, the daily chart


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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

SHIB price skyrockets as Binance Lists Dogecoin rival Shiba Inu

“DOGE killer” Shiba Inu coin has reached a new all-time high as it rides on bullish momentum from recent crypto exchange listings. SHIB price has climbed by over 2,260% in the past week, as many investors missed out on the Dogecoin pump.

More Dogecoin News

Polygon looks to recover as adoption spree continues

Polygon has been at the forefront of scaling Ethereum blockchain via its L2 solutions. Its most recent collaboration involves Oddz Finance and a proof-of-stake (POS) validator called Stakefish.

More Polygon News

Polkadot eyes 24% gains

Polkadot price faced rejection at a crucial supply barrier, but the latest market crash amplified this sell-off. DOT is currently awaiting retest of a key supply level before surging higher.

More Polkadot News

Cardano gains to diminish as 16% correction awaits

Cardano price is on the precipice of starting a downtrend after a recent minor sell-off. ADA looks to slide toward a key demand barrier that separates bullish from bearish.

More Cardano News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast