EOS Price Analysis – February 13

  • The medium-term outlook is in a bullish trend while the short-term is in a range.
  • Traders should be cautious trading the consolidation.

Eos, EOSUSDEOS 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 is in a bullish trend in its medium-term outlook. The strong bullish pressure broke the upper supply area with a large bullish engulfing candle at $2.90 yesterday February 12. EOSUSD was further up at $3.04 in the supply area.

To guarantee bullish continuation a retest of the broken upper supply area is necessary. 

The bulls are gradually returning and hence the formation of bullish reversal candlestick pattern will affirm the commencement of the uptrend.

The price is above the 50-EMA but below the 10-EMA which still implies strong bullish pressure while the stochastic oscillator signals points down at 64% an indication of the brief drawdown, before the resumption of the uptrend continuation.

EOSUSD Price Short-term Trend: Ranging

Eos, EOSUSD, Cryptocompare chartEOS chart by tradingview   

EOS is in consolidation in its short-term outlook. Exhaustion to the bullish pressure occurred at  $3.06 in the supply area as the candles closed with wicks around the area. This put the cryptocurrency in a range as the bears gradually staged a return.

Confirmation to the bears' takeover in the range was with the bearish marubozu candle. EOSUSD dropped to $2.87 in the demand area below the two EMAs.

EOSUSD is in consolidation and trading between $3.03 in the upper supply area and at $2.71 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

 

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

Hacked Exchange Cryptopia Enables Trading in 40 Different Currency Pairs

New Zealand-based digital asset exchange, Cryptopia has reportedly resumed trading on its exchange as it is now allowing 40 different trading pairs. This, after Cryptopia recently experienced from several different security breaches.

Support For Bitcoin, Litecoin, Dogecoin Pairs Added

Cryptopia’s management announced (via Twitter on March 18th) that it is planning to expand its list of coins which will again be supported on its trading platform. As noted on Cryptopia’s official support website, the exchange has enabled several different trading pairs (as of March 19th, 2019) with major cryptocurrencies. These include bitcoin (BTC), litecoin (LTC), and dogecoin (DOGE).

In response to Cryptopia’s announcement, Twitter user @dgb-chilling, a supporter of DigiByte (DGB), a cryptocurrency that uses five different mining algorithms, said that he had emailed the exchange’s support team to inform them regarding the coin’s latest update (version 6.17.2). He added that “an upgrade was recommended but not mandatory.”

Meanwhile, Chuck Norris (@CryptoTweet6) remarked: 

Now this is good news! Let’s hope the rest of the coins will be released for trading swiftly.

Other users also considered it “good news” that the compromised cryptoasset exchange was gradually resuming its operations. However, one social media user asked when Cryptopia would start enabling deposits while another inquired about why his ARK coins were still not recoverable from the trading platform. He claimed that he had deposited 1,000 ARK, currently valued at around $628, (a popular proof-of-stake based coin) on Cryptopia. The user also complained that his coins were missing “missing because [the exchange] did not update the ARK wallet."

Tens Of Millions Of Dollars Stolen In Hack

On February 27th, 2019, Cryptopia’s management announced that it was “assessing the impact incurred as a result of the hack” which led to the theft of tens of millions of dollars in cryptocurrency. Last month, Cryptopia’s support team had also estimated that the total loss incurred due to the security breaches was of around 10% of its total holdings (in the worst-case scenario).

Notably, the exchange’s official Twitter account had been silent for several weeks (since Feburary 14th). However, it released several announcements, starting in late February, in which it revealed that its staff members were working on securing each customer’s account individually. Cryptopia’s management also noted that it was taking the appropriate measures to ensure that its trading platform is secure when it is officially back online.