EOS price analysis: EOS/USD waits patiently for the storm to clear before breakout as Block.one encourages entrepreneurs to explore EOSIO software

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.

EOS/USD 15’ chart