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.

Qtum’s Price Jumps Over 27% to $5.6 on ‘Confidential Tokens’ Advancements

Qtum (QTUM) has recently seen its price rise by nearly 30% in a small amount of time, after the smart contract platform’s developers revealed they’ll be working to add privacy features to it after an expected upgrade in September of this year.

At press time, according to CryptoCompare data, one QTUM token is trading at about $5.5 after rising 27.6% in the last 24-hour period. Over the last 30 days the cryptocurrency’s price has risen 83.3%, with most of the rise coming from a recent ump.

Qtums price performance over the last 30 days

According to a Telegram AMA the developers did with the community, an upgrade to the cryptocurrency’s blockchain, Qtum 2.0, is set to be released later this year. After it’s out, the developers will work on making private smart contracts and ‘confidential assets’ work on the network.

From a transcript of the AMA, a developer stated:

After we release Qtum2.0 in September, we will working on QIP19, it will enable use Mimble Wimble Technology to release confidential assets on Qtum, we did huge research on all privacy solutions, and we think the MW Technology is one of the best. So After QIP 19, you can release confidential assets and confidential token on Qtum network.

The developer added this means Qtum is going to be bridging the gap between smart contract platforms and privacy-oriented cryptocurrencies. He explained that while privacy coins like zcash and monero are used as cash, it isn’t possible to create smart contracts on their blockchains.

On the other hand, he added, smart contract platforms like EOS and Ethereum aren’t completely private, as blockchain data can reveal users’ identities. This, although the importance of privacy features has been recognized by ETH’s developers. The developer added:

So Qtum want be the First Smart Contract Platform with Privacy. We also think to Airdrop some Privacy Asset later, but this not decided yet.

Behind Qtum’s rise are likely other factors, including it being added to Binance’s Trust Wallet in May of this year. That same month, Qtum also unveiled a full suite of blockchain developer tools in a partnership with Google Cloud.

Qtum, along with TRON, has been seen one of the “top challengers” to the leading smart contract blockchain, Ethereum. Bitcoin’s surge to $12,800 and a wider crypto market rally also played a role in Qtum’s price rise.