EOS Long-term Price Analysis

  • The cryptocurrency has dropped past the $4.5 territory to the $4 territory in the last few trading sessions.
  • Indicators show the bears are gradually getting weaker, and the crypto is seemingly finding strength at the $4.5 and $4 price points

EOSUSD Long-term Trend - Bearish

Distribution territories: $10, $12, $14.

Accumulation territories: $4, $3, $2.

EOS’ market price has been experiencing a significant drop against that of the US dollar. The cryptocurrency has dropped past the $4.5 territory to the $4 territory in the last few trading sessions.EOS, EOSUSD, Cryptocompare chartEOS Chart by TradingView

A notable correction occurred on November 15, and currently the market has ben hovering around the first mentioned price territory. At around October 13, the 15-day Sma was intercepted by the 14-day SMA. The 14-day SMA is under the 50-day SMA.

The Stochastic Oscillators have crossed range 20 to seemingly start a consolidation move around it. The indicator shows the bears are gradually getting weaker, and the crypto is seemingly finding strength at the $4.5 and $4 price points. This could eventually see it enter a bullish period.

If EOS is to further head south, it isn’t expected to drop past the $3.5 territory.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Coinbase, EOS Community Clash Over Supposed ‘Degraded Performance’

Francisco Memoria

The San Francisco-based cryptocurrency exchange Coinbase has been clashing with the EOS community on social media over supposed “degraded performance” the EOS network has been suffering.

According to a tweet published by one of Coinbase’s official accounts, the EOS network is experiencing “degraded performance levels” and as a result EOS sends have been disabled, while receives may be delayed. Coinbase’s status page shows it has been seeing degraded performance on the network for four days.

In February 17, Coinbase also noted there were delays in EOS sends/receives as it was working “rough a backlog of outgoing EOS transactions.” Responding to Coinbase EOS New York, a major EOS block producer, claimed the network was fully functional and that the problem came from the cryptocurrency exchange itself.

On Reddit, EOS New York wrote that the “network is operating fine and Coinbase is shifting blame away from their internal infrastructure problems.” It added no other entity reported issues and that instead the exchange could reach out to block producers for free help.

EOS Nation, another major EOS block producer, responded to the exhcnage saying the network did face some hiccups but is nevertheless “extremely reliable.”

Some speculate the EOS network may still be facing congestion from time to time over the controversial EIDOS airdrop, that put the network into a “congestion mode” late last year and forced Coinbase to raise the amount of staked CPU on its wallets to process transactions.

Some believe the EIDOS airdrop is being run to make EOS’s shortcomings stand out and incentivize users to use other blockchains using the EOSIO software, created by the company Block.one. Voice, the social network the company is set to launch ,is for example launching on a “purpose-made EOSIO blockchain.”

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