{"id":151109,"date":"2023-09-07T02:22:26","date_gmt":"2023-09-06T20:52:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151109"},"modified":"2023-09-07T02:22:26","modified_gmt":"2023-09-06T20:52:26","slug":"eos-could-climb-higher-but-is-there-demand-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eos-could-climb-higher-but-is-there-demand-crypto-news\/","title":{"rendered":"EOS could climb higher, but is there demand &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2021\/12\/Akashnath-pfp-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 7, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>EOS has a bearish market structure and was unable to break above $0.64.<\/em><\/li>\n<li><em>A slow move higher to a Fibonacci retracement level before the continuation of the higher timeframe downtrend was a possibility.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/eos\" data-wpel-link=\"internal\">EOS<\/a> gained <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/eos-network-gains-ground-in-japan-eos-surges-despite-market-troubles\/\" data-wpel-link=\"internal\">regulatory approval<\/a> in Japan last week, which led to a surge of positive short-term sentiment in the market. Given that Japan has a strict financial regulatory framework, the network\u2019s efforts to be compliant with its regulations boded well for long-term holders.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Is your portfolio green? Check the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/eos-profit-calculator\" data-wpel-link=\"internal\">EOS Profit Calculator<\/a><\/p>\n<hr \/>\n<p>The price chart saw a price jump on 29 August and 30 August, but from a technical standpoint, the structure did not favor the buyers. Even so, a bounce was possible.<\/p>\n<h4>The downtrend could begin anew after a move to these resistance levels<\/h4>\n<div id=\"attachment_341361\" style=\"width: 2601px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341361\" class=\"size-full wp-image-341361\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"EOS could climb higher in search of liquidity, but does it have genuine demand?\" width=\"2591\" height=\"1469\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price-1024x581.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price-1536x871.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price-2048x1161.png 2048w\" data-lazy-sizes=\"(max-width: 2591px) 100vw, 2591px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341361\" class=\"size-full wp-image-341361\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-price.png\" alt=\"EOS could climb higher in search of liquidity, but does it have genuine demand?\" width=\"2591\" height=\"1469\" \/><\/a><\/p>\n<p id=\"caption-attachment-341361\" class=\"wp-caption-text\">Source: EOS\/USDT on TradingView<\/p>\n<\/div>\n<p>While long-term investors could be in for a prolonged wait for a true bull run, traders could expect to see reasonable gains in the coming weeks. EOS was trading at $0.589, and its bounce in late August was unable to breach the local resistance at $0.644.<\/p>\n<p>The Fibonacci retracement levels were plotted for the losses since July. They showed that the 50% and 61.8% Fibonacci retracement levels sat at $0.676 and $0.714 respectively. A retest the $0.714 would be ideal before another drop, and has occurred recently.<\/p>\n<p>The rejection from $0.815 in mid-July was from the 61.8% retracement level of the previous drop. The RSI continued to show a downtrend in progress, while the OBV has not beaten the highs from July yet.<\/p>\n<h4>Order books showed substantial support at the $0.56-$0.58 region<\/h4>\n<div id=\"attachment_341360\" style=\"width: 2546px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341360\" class=\"size-full wp-image-341360\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"EOS could climb higher in search of liquidity, but does it have genuine demand?\" width=\"2536\" height=\"1123\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart.png 2536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart-300x133.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart-1024x453.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart-768x340.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart-1536x680.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart-2048x907.png 2048w\" data-lazy-sizes=\"(max-width: 2536px) 100vw, 2536px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341360\" class=\"size-full wp-image-341360\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-mobchart.png\" alt=\"EOS could climb higher in search of liquidity, but does it have genuine demand?\" width=\"2536\" height=\"1123\" \/><\/a><\/p>\n<p id=\"caption-attachment-341360\" class=\"wp-caption-text\">Source: MobChart<\/p>\n<\/div>\n<p>MobChart data showed plenty of limit buy orders just below where EOS was trading at. They amounted to close to $600k worth of buy orders, while a $287k sell wall sat at the $0.6 mark.<\/p>\n<div id=\"attachment_341358\" style=\"width: 1706px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341358\" class=\"size-full wp-image-341358\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"EOS could climb higher in search of liquidity, but does it have genuine demand?\" width=\"1696\" height=\"810\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass.png 1696w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass-300x143.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass-1024x489.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass-768x367.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass-1536x734.png 1536w\" data-lazy-sizes=\"(max-width: 1696px) 100vw, 1696px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341358\" class=\"size-full wp-image-341358\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/PP-2-EOS-coinglass.png\" alt=\"EOS could climb higher in search of liquidity, but does it have genuine demand?\" width=\"1696\" height=\"810\" \/><\/a><\/p>\n<p id=\"caption-attachment-341358\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/pro\/futures\/Cryptofutures\" data-wpel-link=\"external\">Coinglass<\/a><\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not, here\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">EOS market cap in BTC\u2019s<\/a> terms<\/p>\n<hr \/>\n<p>Over the past week, the market sentiment shifted bullishly when the prices bounced to reach $0.64 on 29 August. The OI surged higher but retraced all those gains as the market slumped toward $0.58 again.<\/p>\n<p>Aggressive swing traders can look to buy EOS around the $0.6 mark, with a tight stop-loss around the $0.55 level. The bullish target would be the $0.67 and $0.71 levels- but a bearish reversal was likely thereafter. Alternatively, a move below $0.55 could trigger losses as well.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 7, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. EOS has a bearish market structure and was unable to break above $0.64. A slow move higher to a Fibonacci retracement level before the continuation of the higher timeframe [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":151110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-151109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151109"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151109\/revisions"}],"predecessor-version":[{"id":151112,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151109\/revisions\/151112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151110"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}