The growth of cryptocurrencies EOS were suspended on Wednesday and Thursday this week due to corporate news. In the afternoon on Thursday, June 7, EOS is trading at $13,7600 declining, according to Dmitry Gurkovsky, analyst at RoboForex.
Now EOS it all hinges on the internal information, so the technical pattern of trading reflects only the fundamental data. Given that positive information is still there – and the market is waiting for it eagerly – EOS may enhance the decline.
Key support in such circumstances is $12,5000, while a key resistance stands at $15,6560. Today, with the breakthrough of the intermediate support $13,4000 will open the way to the bottom of the range.
The MACD on the daily chart goes from negative to positive and generates a signal to buy. The Stochastic oscillator maintains positions in the positive zone, but begins to decline and is ready to signal the sale. In other words, until the driver EOS with high probability will remain within the sideways channel, but the amplitude of fluctuations can be high.
From the point of view of fundamental news with EOS “not going smoothly”. The main problem now is to delay the official launch of the network. It was to be held on June 2, but the company is, “taking a break” until June 6, delayed and the date. It is possible that during the day, the company announced another delay, the launch will not be held. To start the network, you need to constantly fix errors and crashes, and the “slip” to do so, most likely, will not work.
Initially it was said that in the course of testing on cybersecurity network revealed problems with the code. Later EOS stated that bugs are fixed, but the network did not work in full force. Over elimination of shortcomings of work including the professionals involved. It seems that during the day I have some certainty on the timing of the launch.
Let me remind you that during the ICO EOS attracted more than $4 billion, the placement lasted more than a year and drew the attention of a large number of potential investors. They say that ICO was the highest grossing for the last time. EOS say the probable competitor of Ethereum cryptocurrency, but right now to say how and when a newbie wins one of the leaders in the virtual market, hard to say. One thing is clear – the new decentralized operating system will offer options cryptocurrency transfers without fees and show that the scaling (one of the main problems existing codes) could be infinite.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.