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Fundamental Analysis EOS December 2018

Fundamental Analysis EOS December 2018


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.

Are you looking for the latest fundamental analysis? Or do you look for another cryptocurrency? See all fundamental analysis in the blog.

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 thissudden price surge.

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. As price breaks below the 65 period Moving Average, the price ofEOS is at a risk of arriving at a 0.3774 price, or even lower.

Updates and Milestones Accomplished on the EOS Network

The EOSIO platform has been updated to Version 1.5.0-rc1with the following functionalities added: Release Candidate for MultithreadedSignature Verification, A State History Plugin, and Blacklist Security Enhancements.

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 EOSIO.

Moving forward, in order to allow for thorough testing and documentation, new versions of EOSIO and EOSIO.CDT will be marked as ‘ReleaseCandidates’ (-rc) when ready for first compiled release. After a few cycles of feedback, once documentation is completed, the release will be promoted to‘stable’. In the case of V1.5.0-rc1, it will be renamed to V1.5.0 and merged into master on the Github repository.

The team has also scheduled the second Tuesday of every month for a version update EOSIO software, which has been going on for 2 months running now. This date is intended to serve as a major milestone for theVersion Release Candidate (rc) in order keep the community informed on what to expect in the coming release prior to a merge into master for the “official release.

Check Out more articles discussing EOS in our blog:

Technical Analysis of EOS – February 2019

Technical Analysis of EOSUSD March 22, 2019

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