EOS Price Prediction: The bottom could be in for the OG crypto community


  • EOS price has lost 93% of its market value since May 2021.
  • Santiment's Volume Profile Indicator shows an uptick in volume amidst the countertrend rally.
  • Invalidation of the bullish thesis is dependent on two factors detailed below.

EOS price has a few confounding factors, indicating a continuation of the countertrend rally. 

EOS price looks better than most

EOS is one of the oldest crypto tokens with a strongly engaged community since 2018. At current time, the OG crypto shows subtle bullish signs that traders and investors should pay attention to. Since May 2021, the EOS price has lost 93% of its market value. 

During the August Crypto rally, EOS price managed to rally an impressive 135% from the $0.81 low established on June 13. Aside from the incredible recovery rally, additional on-chain metrics suggest bullish strength in the market.

tm/eos/8/31//22

Santiment’s Price &  Volume Profile Indicator

EOS price currently auctions at $1.38. EOS, the open source blockchain platform, is one of the only cryptocurrencies that has breached the previous consolidative zone dating until May 2022. This is a very bullish signal amongst Elliott Wave Practitioners. 

Additionally, Santiment's Volume Profile Indicator shows a decent uptick in volume, which confounds the idea that there are high-cap bulls in the market aiming for higher targets.

tm.eos.8.31.22

EOS USDT 

Combining these factors, EOS price should be a token to take seriously. Bullish moves could rally as high as $2.50 in the short term to take out additional liquidity levels established this summer.

Invalidation of the bullish thesis is dependent on two factors. EOS should re-attempt the $1.90 high established in August. If this bullish occurrence occurs, the invalidation level can be placed at the new swing low at $0.81. 

In the following video, our analysts deep-dive into Bitcoin's price action, analyzing key levels of interest in the market - FXStreet Team

 


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: BTC holdings of large investors surges as Trump takes the Oval Office

Bitcoin Weekly Forecast: BTC holdings of large investors surges as Trump takes the Oval Office

Bitcoin trades in the green and hovers above $105,000 on Friday after hitting a new all-time high of $109,588 on Monday. CryptoQuant’s weekly report highlights that the demand for BTC from large investors surges as US President Donald Trump takes the Oval Office. 

More Bitcoin News
Dogelon Mars pumps more than 85%, whales dump 128 billion coins and realize a profit

Dogelon Mars pumps more than 85%, whales dump 128 billion coins and realize a profit

Dogelon Mars price continues its rally on Friday after rallying more than 18% this week. On-chain data shows that ELON whale wallets realized profits during the recent surge. The technical outlook suggests a rally continuation of the dog-theme meme coin, targeting double-digit gains ahead.

More Cryptocurrencies News
XRP lose steam, risks 20% decline despite Donald Trump's presidential executive order

XRP lose steam, risks 20% decline despite Donald Trump's presidential executive order

XRP investors realized over $500 million in profits in the past 48 hours. Short-term holders are responsible for most of the selling activity following CME's clarification on XRP futures. XRP could decline nearly 20% to $2.62 as bulls show signs of exhaustion.

More Ripple News
Crypto market outlook 2025: PayFI report highlights AI and Memecoins as key sectors to watch

Crypto market outlook 2025: PayFI report highlights AI and Memecoins as key sectors to watch

The global cryptocurrency market was sent agog this week as US President Donald Trump’s inauguration triggered a flurry of bullish catalysts. As traders navigate the volatile market trends, a Foresight ventures’ market outlook report shows key sectors to watch in the weeks ahead. 

More Cryptocurrencies News
Bitcoin: BTC holdings of large investors surges as Trump takes the Oval Office

Bitcoin: BTC holdings of large investors surges as Trump takes the Oval Office

Bitcoin (BTC) trades in the green and hovers above $105,000 on Friday after hitting a new all-time high of $109,588 on Monday. CryptoQuant’s weekly report highlights that the demand for BTC from large investors surges as US President Donald Trump takes the Oval Office.

Read full analysis
Trusted Broker Reviews for Smarter Trading

Trusted Broker Reviews for Smarter Trading

VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.

Read More

BTC

ETH

XRP