The Uncertainty Around the Future of EOS
With the ongoing plummeting of cryptocurrencies, the importance of predicting future trends of digital assets has become more critical. Reading the price of EOS, investors have seemingly adopted varying stances. The three predictions listed below range from overly negative to positive, showing that the value of EOS is likely to change constantly in the near future.
The Overly Bearish H&S
Typically, head-and-shoulders patterns indicate different parameters of the cryptocurrency under analysis. Depending on its intensity, such patterns can prompt small changes or drastic declines in the near future. According to andypro16 from TradingView.com, the price of EOS will drop to $1.22 after the $4 demand zone is broken. Despite the apparent short-sightedness of this projection, its possible occurrence cannot be ruled out entirely.
Notably, this prediction is hedged on the plummeting of EOS’s value below $4. Going by the current market trends, this seems to be impossible. Although the crypto markets are undergoing a bearish trend, the value of EOS has been soaring, and it is unlikely that this will change soon. Though interesting, it is safe to conclude that this prediction is far-fetched, at least for now.
The $4 Shortening
As expected of any asset, digital currencies have people whose supports its concept as well as critics who dismiss it at every chance. In this instance, chorny.capital predicts that the value of EOS will drop below $4, despite of the current upward trend. Precisely, this investor expects the price of EOS to slowly decrease towards the $4 mark. As noted earlier, the chances of this happening soon are next to zero.
Nonetheless, it is inevitable that the value of EOS will dip in due course. While the altcoin has been on a bullish run lately, this momentum will eventually subside. This, however, is not necessarily bad, because it makes way for future upward trends. For now, the probability of the price of EOS going below $5 is certainly a long shot.
A Bullish Trend?
A significant number of crypto investors are still optimistic that the markets will replicate last year’s momentous bullish trend. Among these optimists is Amney, who predicts that EOS will replicate its impressive performance between November 2017 and January this year. If this holds, the price of EOS will increase to a $13 and $21 in quick succession and then maintain a flat rate afterwards.
Currently, the record high price of EOS stands at $22. Despite the high expectations regarding the future of EOS, one can only wait to see how it will go. Evidently, EOS has weathered the current bearish trend that has hit Bitcoin and other virtual currencies, but due to the characteristic volatility of crypto assets, it is difficult to predict the future of specific cryptocurrencies.