Huobi derivative market now supports EOS: EOS/USD testing 15-months range support

Huobi is the is the world’s third-largest crypto exchange by adjusted volume. According to a report published by Cointelegraph, the exchange company has added EOS to its derivative market. The press release sent to certain news outlets notes that traders will now have the ability to either long or short their positions on EOS.

The addition comes as part of the company’s “ongoing efforts to address customer demand.” The current contract will have access to price limit, position limit as we as order limit. In addition, there will be a 20x leverage margin. Moreover, the exchange company will impose a 0.02% fee on all trading that involves makers and 0.03% for the takes that will allow them to do both the opening and closing of positions.

EOS price technical picture

Looking at the weekly range for EOS, we see that the asset has declined significantly from the all-time highs recorded in May 2018 where EOS/USD changed hands at $21.5. The price has been exploring the levels to the south and currently is testing a 15-month range support between $0.0433 and $2.033. It is important that the buyers hold this support range in the coming few days, otherwise, we could see a further breakdown as EOS refreshes new 2018 lows. In the meantime, the asset is trading at $2.40 after rising 1% on the last Friday in 2018.

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EOS price analysis: Retreats from December highs; reversal limited

EOS/USD weekly chart