EOS Price Analysis – January 4

  • The medium and short-term outlook is in a bullish trend
  • Traders may consider buying at key area with bullish reversal candle as confirmation.

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOSUSD Price Medium-term Trend: Bullish

  • Supply zones: $9.00, $10.00, $11.00
  • Demand zones: $2.00, $1.00, $0.50

EOS remains in a bullish trend in its medium-term outlook. The bearish pressure from the doji and yesterday's opening session was lost at the 50.0 fib area which was at $2.67 in the demand area. This was around the 50-EMA.

The bulls gradually returned before the end of yesterday session and pushed EOSUSD up at $2.76 in the supply area increased momentum the crypto at $2.85 in the supply area which was at the 23.6 fib area.

With the price above the 50-EMA and the stochastic oscillator at 28%, the bulls still remain in control. A retest and subsequent breakout at $3.00 in the supply area in the medium-term is probable.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview

EOS remains in a bullish trend in its short-term outlook. The bulls resumed the upward price movement yesterday after each touch at the key demand area around the $2.70. EOSUSD was up at $2.85 in the supply area before a drop to the key demand area as a result of the bearish pressure.

The bulls are gradually staging a comeback at the key demand area for a bounce to the upside.

The stochastic oscillator is in the oversold region at 13% and its signal pointing up an indication of upward momentum in the cryptocurrency price in the short-term.

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

Binance Margin Borrowing Passes $100 Million Mark Since July

Neil Dennis

Since Malta-based crypto exchange Binance first offered lending in July, as much as $100 million in cryptocurrency have been borrowed, the company announced in a Twitter post.

The company offers margin lending - which enables lenders to earn interest on cryptocurrency during the term of the loan - on 21 different cryptoassets.

The company announced earlier this week that it was adding margin trading options for two additional cryptoassets: dash and zcash. Binance also announced it would include dash among the assets it allows customers to lend over the exchange. The ability to lend and borrow cryptocurrencies on an exchange helps increase their liquidity, thus, eventually reducing price volatility.

Dangers of Margin Trading

Margin trading in cryptocurrencies has been broadly criticized as leveraged trades amplify potential gains, but also risk increasing potential losses. Given the volatility in the cryptoasset market in recent years, the Bank of England would like to ban the trading of highly-leveraged products to reduce the exposure of retail investors to huge losses.

Altcoins, such as dash and zcash, are more volatile than the better capitalized tokens such as bitcoin and ether as they lack liquidity on exchanges - meaning that because trading in them is so light and infrequent, large price swings can be generated by relatively small block-trades.