Capital.com Research TeamBefore we dive into the price predictions for the EOS cryptocurrency, it is good to have some basic knowledge of its intended use. And to understand that, you must also know what EOSIO and Block.one are.
EOS, EOSIO & Block.one – what are they?
EOSIO is a high-performance blockchain protocol that provides the infrastructure for decentralised applications (DApps). Examples of comparative blockchain platforms that could be considered rivals to EOSIO would include Ethereum, TRON, and NEO.
Some developers choose to build applications on EOSIO over other blockchain platforms due to its scalability, speed, user friendliness, and free transactions. DApps currently running on EOSIO fall into different categories such as exchanges, games, gambling, DeFi, and more.
Trade EOS to US Dollar - EOS/USD CFD
EOSIO was the first product developed by Block.one, a blockchain solutions company that is now also building Voice, a social media platform that will run on the EOSIO blockchain. Block.one is a multi-billion dollar start-up that has blockchain innovators, entrepreneurs, tech experts, investors, and other industry leaders among its executive team.
EOSIO is famous for its record-setting ICO in which $4 billion was raised through the sale of EOS coins. EOS is the primary medium of exchange for financial transactions throughout the EOSIO ecosystem. Simply put, EOS is the native currency of EOSIO.
From an investor’s point of view, the more successful EOSIO is, in terms of the popularity of its DApps, the number of users, and other factors, the more demand there should be for the EOS cryptocurrency.
EOS price forecast
Now that we have established what the use-case for EOS is, we can start to look at EOS price predictions going forward. EOS is unlikely to fizzle out to nothing as it is tied to projects that have ambitious plans and a lot of potential over the long-term.
Other factors that we can expect to influence the EOS price prediction include:
Hype and media attention: News, partnerships, and other developments that garner a lot of attention and are linked to the cryptocurrency in some way will likely have an effect on EOS price prediction.
Overall market conditions: The crypto market goes through bullish and bearish phases that hugely influence the price of EOS. Bitcoin has the most effect on the overall market, but we have also seen altcoin-led rallies in the past, known as “alt seasons”.
EOS price prediction for 2019
We are now in the final months of the year, with just December remaining. 2019 has been a volatile year with both large moves to the upside and downside.
According to EOS price analysis, From January 1 to May 31, EOS rallied 245 per cent higher in a strong uptrend. EOS then retraced this entire move with a bearish downtrend that continued until September 24. Since then, EOS prediction has moved mainly sideways and currently sits up about 22.5 per cent year-to-date.
_0.png "EOS Price Prediction")
For the remainder of 2019, experts believe EOS’s price will trade in a range between the two nearest areas of major support and resistance. These areas are marked in grey on the chart above, with resistance at about $4.25 and support at around $2.5.
EOS is currently trading below its 200-day (green), 100-day (blue), 50-day (red), and 20-day (turquoise) simple moving averages (SMAs), which is a bearish sign. If the price of EOS can break above its 20, 50, and 100-day SMAs, we could see its price at the end of 2019 near to or heading towards $4.25.
If EOS’s price is unable to break above the 20, 50, and 100-day SMAs, with them acting as resistance, it will likely head lower and end 2019 closer to the $2.5 support.
EOS price prediction for 2020
.png "EOS price history")
Having declined through the second half of 2019, the price of EOS now looks like it is stabilising with a rounded bottom pattern forming. This could indicate that higher prices are ahead after the bottom pattern is complete.
EOS price history shows that decline started last year when its price hit a major area of resistance at around $9 that was also tested twice in 2018 (see the blue arrows).
If EOS can break out above this rounded bottom pattern, experts believe its price could test this area of resistance again. If EOS does rise to and test $9 in 2020, then multiple retests of this area are expected with it acting as both resistance and support.
