EOS Long-term Price Analysis - March 23

  • EOS has been facing resistance around the $4 mark, which has been keeping it within a specific range.
  • The range could become a lower one if the 50-day SMA manages to surpass the 14-day SMA.

EOSUSD Long-term Trend - Ranging

  • Distribution territories: $4.50, $5, $5.50
  • Accumulation territories: $2.50, $2, $1.50

EOS has been trading around the $3.5 mark this week, as it has been in the last few weeks. The cryptocurrency has also been moving close to its 14-day SMA, around said mark.

EOS, EOSUSDEOS Chart by TradingView

The crypto’s 50-day SMA has over time started to bend northward, while still being located beneath the 14-day SMA. The Stochastic Oscillators are at ranges 80 and 60 pointing south.

EOS has been facing resistance around the $4 mark, which has been keeping it within a specific range. The range could become a lower one if the 50-day SMA manages to surpass the 14-day SMA.

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

Overstock Committed to Crypto Even After CEO Patrick Byrne’s Exit

Michael LaVere
  • Overstock said it is "absolutely" committed to crypto in the wake of CEO Patrick Byrne's resignation.
  • Company continues to support its high profile tZERO blockchain project. 

Popularo nline retailer Overstock remains committed to cryptocurrency even after the sudden resignation of its long-time CEO and crypto supporter Patrick Byrne. 

Crypto Supporter Patrick Byrne Resigns

On Aug. 22, Byrne announced he would be resigning his position as CEO following a series of comments made the week before about his involvement in FBI investigations and a romantic relationship with a Russian spy. Shares for Overstock plummeted more than 35% following Byrne’s bizarre comments, but rallied in the aftermath of his resignation. 

Despite making a sudden exit, Byrne had established Overstock as one of the most high-profile companies to support bitcoin and cryptocurrency, a legacy that plans to continue even in his absence. 

Newly appointed interim CEO Jonathan Johnson was asked by Yahoo Finance if the company will retain its focus on crypto and blockchain. 

He said, 

Absolutely, yes. The fledgling blockchain business is doing well.

He continued, 

Our team at Medici Ventures, which is the blockchain-focused business, is still working hard, and those different companies in the Medici family are growing at a nice rate.

Earlier in the month, Overstock reported suffering a 23% decrease in revenue for Q2 2019, despite claiming that the blockchain division was performing well. Overstock operates the notable tZERO platform, which was recently opened to retail investors for trading. In addition, the company announced in July that they would be issuing a digital-equivalent of a dividend for shareholders.