EOS like other cryptocurrency is in a strong bearish trend with strong resistance levels left behind in its trail. Join us as we take a look at the fundamental and technical events that have been affecting the price of theEOSUSD.
A Focus on Previous and Upcoming Events in the EOS Community
16 October 2018 – EOSISH Airdrop for EOS Holders
As a way to encourage the use of cryptocurrencies and EOS in particular, an EOS (EOSISH) airdrop was scheduled for October 16. Such Airdropevents also create awareness as well as bring in new money into the cryptocurrency space.
This event resulted in a bearish closing Inside-bar candle pattern. The following day confirmed the presence of bearish pressure by triggering a bearish accumulation pattern, which first resulted in an 8.5%price decline, a maximum adverse excursion of 4.7%, and eventually to a price of 1.8512.
06 November 2018 – Listing on BitForex
BitForex announced a listing of EOS on their trading platform. This will allow traders of altcoin an opportunity to trade EOS paired against other altcoins, USDT, and Bitcoin.
The price chart of the EOSUSD pair closed with a long bullish closing candle, indicating an increase in buying the pressure. However, the pair reversed into a series of consecutive bearish closing bars after
08 November 2018 – Biztranex Listing
On November 8, Biztranex Exchange announced a listing of EOSon their platform. Although this was expected to increase speculative adoption which should consequently lead to a bullish trend, it resulted in a confirmation of bearish hidden divergence on the daily chart. From this point, the exchange rate of EOSUSD plummets by approximately 71%.
Technological Adoption on the EOS Network & Potential Triggers for December
Quarter 4 2018 – Decentralized Exchange
A tentative launch date of EOSfinex is not yet confirmed. It is said to be a high-performance decentralized exchange is to be built on EOS.IO.
A successful launch of this exchange, in combination with other high impact events in the cryptocurrency sphere, may lead to a bullish trend.
Potential Risks for December and into January 2019
From the weekly price chart illustrated above, the bearish regular divergence pattern is responsible for the bearish trend the EOSUSD is nat the moment.
Updates and Milestones Accomplished on the EOS Network
This update was released as of December 5, 2018: EOSIO V1.5.0 and has since been published as a Stable Release.
More details and documentation on this release can be found on the platforms Github page as well as the EOSIO Developer Portal.
The team will frequently collect feedback on how applications are built on the platform by the community, therefore improving the developer experience on
Moving forward, in order to allow for thorough testing and documentation, new versions of
The team has also scheduled the second Tuesday of every month for a version update