EOS (ERC-20 Token):
- Current Price $0.93 USD
- Current Market Cap $309 Million
- Circulating Supply 332 Million (+2M per day)
- Total Supply 1 Billion
- Release Date July 1st 2017, Completion Date next summer
Looking at the one week charts for EOS we should see a rebound to the $1.09-$1.17 zone in the short term (a few days). Stochastics indicate OVERSOLD conditions which indicate that now is the time to buy. Bollinger Bands suggest that we are below the moving average of 96 cents and should see a top range of $1.00 on the next oscillation.
When looking at the all-time charts the price targets are much higher. We could see a retracement back to the $1.45 zone within a few weeks to a few months and a possible 1.618 ratio retracement to $3.01 by next summer.
The main reason why the price has been hit so hard recently is because a large portion of the demand for these tokens is coming from the Asian markets. When China made their recent ruling to ban ICOs it sent shockwaves through the crypto community. EOS was trading at more than double its current price one month ago and has slowly seen demand tapering off.
EOS is already ahead of schedule with their development and had initially raised $200 Million to jumpstart their project. This recent price dump is just a minor speed bump in their roadmap and they will come back even stronger! Anything that Dan Larimer creates turns into pure GOLD.
Please let me know what you think about EOS and the future of fee-less, fully scalable blockchain projects :) Happy trading!
What do you think about the price next summer when they finish ICOs?
Their ICO price was something like 91 cents for the majority of their investors during their first ICO phase.
That is when they raised the lion's share of their investment. One could assume that their price will be anywhere from a few dollars up to a hundred or more. If they begin to trade at 1/10th the price of ETH (since they have 10x the supply) then their price could be very high by next summer.
There is still a lot up in the air but a modest investment of a few thousand could pay off ten fold in a year.
Sounds promising. So anything around that 91 cents should be cheap then. The rewards seem to be much higher than the risk. Could be a good bet this one
My advice would be to buy some just in case- worst case scenario is you lose a small amount of money. You can never lose 100%.
UPDATE:
The price only rallied up to 96 cents before the rumors from China deflated the price again. We are back in the 78 cent range! FIRESALE!!!
Interesting, this comment has got $0.71 and now eos is trading at the same. How long can it burn like this?
I hope the first demo will start the revival :) It will be a first glance of the whitepaper becoming (hopefully
Any news usually pumps projects up. I'm glad to be in on the early stages of this.
Same here. Lets try to get a discount when we buy our Lambo together :)
Another factor for downward pressure was Bitfinex revoking EOS trading for US customers due to the somewhat recent SEC ruling on ICOs.
The irony of that is I have all of my EOS tokens on Bitfinex LOL
There is still a legal gray area.
as of 12am central time US eos is at 83 cents and falling