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EOS Price Prediction Today: Daily (EOS) Value Forecast – April 29

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  • On the upside, if the price is sustained above the EMAs, the crypto’s price will rise to test the $5.40 resistance level.
  • On the downside, if the bulls failed to sustain the price above the EMAs, the price of EOS will fall.

EOS/USD Medium-term Trend: Bearish

  • Resistance levels: $ 6, $7, $8.
  • Support levels: $4, $3, $2.

Last week the price of EOS was in a bearish trend. The crypto’s price had been on a downward fall since April 10. Last week the bulls were resisted at the $5.60 and $5.40 resistance levels and the crypto’s price fell to the support of the $4.60 price level. The crypto’s price is in a bullish movement as the bulls attempt to break above the 12-day EMA and the 26-day EMA. The bulls broke above the EMAs but could not sustain the price above it.

On the upside, if the price is sustained above the EMAs, the crypto’s price will rise to test the $5.40 resistance level. On the downside, if the bulls failed to sustain the price above the EMAs, the price of EOS will fall. Meanwhile, the stochastic is in the overbought region but below the 80% range. This indicates that the price of EOS is in a bearish momentum and a sell signal.

EOS/USD Short-term Trend: Bullish

On the 1-hour chart, the price of EOS was in a bullish trend zone. The bulls were facing resistance at the $4.96 price level. Each time the bulls tested the $4.96 resistance level the price would fall to the bearish trend zone.

The price is now back above the EMAs attempting to retest the $4.96 resistance level. The price is trading at $4.90 as at the time of writing. Meanwhile, the stochastic is in the oversold region but above the 40% range. This indicates that the price of EOS is in a bullish momentum and buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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As bitcoin smashes past $8,000 retail interest begins surging, new momentum?

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As bitcoin initiated a powerful recovery to $8,000 over the weekend, the interest towards the dominant crypto asset on Google Trends spiked to April 2018 levels, demonstrating a noticeable increase in demand from retail or individual investors.

bitcoin popularity on google trends rising

Google Trends for the keyword “bitcoin” is spiking

Major markets in the likes of South Korea have also begun to show a clear rise in interest from individual investors.

Circle CEO: institutional market arrived in bitcoin as CME clears $1 billion in 1 day

Related: Circle CEO: institutional market arrived in bitcoin as CME clears $1 billion in 1 day

The rally of bitcoin and the rest of the crypto market in recent weeks has mainly been attributed to the increase in the inflow of capital from institutional investors as seen in the spike in the daily volumes of the CME bitcoin futures market and Grayscale’s Bitcoin Investment Trust (GBTC).

If retail interest in bitcoin rebounds in the weeks to come, it may establish the foundation for new momentum for the crypto market.

Will bitcoin rally lead to the recovery of alternative crypto assets?

Year-to-date, most major crypto assets such as litecoin, bitcoin cash, EOS, and BNB have recorded gains in the range of 140 percent to 400 percent against the U.S. dollar.

However, from their all-time highs, the majority of crypto assets have underperformed with many cryptocurrencies down by nearly 90 percent from 2017 highs. Against BTC, most crypto assets have also performed quite poorly in the past 16 months.

According to a cryptocurrency trader @SatoshiFlipper, with BTC recovering to $8,000 quickly after plunging to $6,400 on May 17, alternative crypto assets are likely to continue rising against the U.S. dollar in the near-term.

The trader said:

“The rest of this year will be characterized by rapid $BTC advances, healthy corrections and periods of sideways price action, when #altcoins will fly. Put that nonsense rhetoric about waiting for capitulation and still not making our bear market lows away. Wrong cycle. Full on degen alternative cryptocurrency season still on track for June. Next few weeks, as BTC finds a range, we’ll continue to see the popular altcoins bounce back 1st. In June, ALL altcoins across the board will bounce back hard. More disbelief on its way.”

Previous bull cycles of bitcoin have occurred around a year before its scheduled block reward halving. In May 2020, bitcoin is set to see its block reward halved, which would decrease the rate in which new BTC is produced.

As the scheduled block reward halving nears, based on fundamental factors, the momentum of BTC is likely to be sustained.

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One concern of investors is the rate in which bitcoin and the crypto market have been recovering and some have suggested that a gradual climb from the current point, having already recorded large gains, would be ideal.

David Tawil, the president of ProChain Capital, told Bloomberg in April:

“Certainly, an investor would much rather see a gradual rise with constant floors in terms of downside being established, as opposed to a very, very quick run-up. It could be easy come, easy go.”

Ethereum, XRP, and Others Up 8%+

On the day, Ethereum, XRP, and other major crypto assets have risen by at least eight percent against the U.S. dollar following bitcoin’s strong nine percent rally.

Bitcoin, currently ranked #1 by market cap, is up 9.33% over the past 24 hours. BTC has a market cap of $141.64B with a 24 hour volume of $23.24B.

Chart by CryptoCompare

Bitcoin is up 9.33% over the past 24 hours.

Filed Under: Bitcoin, Price Watch

Joseph Young

Joseph Young is a finance and tech journalist based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering exclusive content, interviews, insights and analysis of cryptocurrencies, innovative and futuristic technologies.

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Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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Top 5 Crypto Performers: XEM, XLM, XTZ, BNB, IOTA

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data provided by HitBTC exchange.

After the strong recovery of the past few weeks, this week saw some profit booking at the highs. However, unlike previous occasions, the dip has been shallow and some buying is visible close to support levels. This shows that the market sentiment is changing from sell on rallies to buy on dips. After the sharp move from the lows, a few weeks of consolidation is also possible.

In its report, the European Central Bank said that the impact of cryptocurrencies on the real economy is limited, as only a handful of merchants accept them due to their high volatility. However, they find some value in the stablecoins. We believe that the uses of cryptocurrencies have been increasing in the real world, and this is likely to penetrate further in the next few years. The launch of a cryptocurrency by Facebook will also speed up the adoption among the masses.

Though many people want to invest in cryptocurrencies, they are wary of the negative propaganda surrounding them. Some might even find the technology aspect of it a little difficult to understand in the beginning. To address this issue, Coinbase had started its Coinbase Earn program at the end of 2018, which was by invite only, but the exchange has now opened the program for the public.

XEM/USD

Nem (XEM) was the best performer among the major cryptocurrencies. Though it has given up some of its gains, it is still significantly higher for the week. While part of the gains would have come due to the positive sentiment across the asset class, the fundamental news also helped. The markets cheered the Catapult update, which will improve the overall NEM platform and make it more user-friendly and convenient to use. Another piece of positive news is that Zeux will add XEM on its digital payment wallet, after which its users can pay with the cryptocurrency at the merchants that accept Apple Pay and Samsung Pay. Can it continue its recovery?

XEM/USD

The XEM/USD pair is attempting to breakout of the overhead resistance of $0.085. If successful, it will complete an inverse head and shoulders pattern that has a target objective of $0.135946775. The digital currency has a horizontal resistance at $0.13125258. We expect a stiff resistance between these two levels.

A breakout of $0.14 is likely to start a new uptrend that can carry the digital currency to $0.45 with a minor resistance at $0.20. Our bullish view will be invalidated if the bears defend the overhead resistance. In such a case, a few more days of range bound action is likely. The bears will gain an upper hand on a breakdown of $0.045.

XLM/USD

On May 15, the Stellar (XLM) network briefly stopped: during the period of downtime, the network did not process any transaction. Though no one lost any money, it shows that the network needs some improvements. In separate news, the Stellar Development Foundation announced the release of a new ticker API that will provide the latest data about markets and assets on the network.

XLM/USD

The XLM/USD pair broke out of the long-term downtrend line this week, which is a bullish sign —iIt signals the end of the downtrend. The pair has also formed an inverse head and shoulders pattern, which will complete on a breakout and close above the overhead resistance of $0.14861760.

Though the bulls had scaled this level during the week, they could not sustain the breakout as sellers stepped in close to the 50-week SMA. The price has again retreated back below $0.14861760. If the bulls fail to ascend the overhead resistance, the pair might enter into a consolidation for a few weeks.

But if the price breaks out and closes (UTC time frame) above $0.14861760, it will complete the bullish reversal pattern that has a target objective of $0.22466773. Above this level, it can move to $0.2885. Our positive view will be invalidated if the digital currency plunges below the right shoulder.

XTZ/USDT

The Tezos (XTZ) community is currently voting to accept or reject the Athens A Upgrade. The voting process will close on May 29. If the upgrade is accepted, will the price move higher? Let’s see what charts project.

XTZ/USDT

The XTZ/USDT pair has broken out of the 50-week SMA, which is a positive sign. It is currently close to the overhead resistance at $1.85. A breakout and close (UTC time frame) above this level will complete a rounding bottom pattern that has a target objective of $3.37. Both the moving averages are close to completing a bullish crossover that will indicate the start of a new uptrend. The next level to watch on the upside is $4.2424.

On the other hand, if the bulls fail to ascend the resistance, the pair might consolidate between $1.85 and $1.295480 for a few weeks. A break below the moving averages will break the positive momentum that is building up.

BNB/USD

Withdrawals and deposits that had been temporarily suspended after this month’s hack of more than 7,000 BTC restarted this week. A major system upgrade was also completed during the week. Sports blockchain venture Chiliz has also announced a partnership with Binance Chain, and Binance Launchpad announced the sale of the harmony token via the lottery format on May 28. Can binance coin (BNB) extend its up move? Let’s find out.

BNB/USD

The BNB/USD pair continues to be in a strong uptrend. The 20-week EMA is sloping up and the RSI is in the overbought zone: this shows that the bulls have the upper hand. The buyers aggressively purchased the dip and propelled the price to new lifetime highs again this week, which shows that every dip is being bought.

The next level to watch on the upside is $33, which is close to the resistance line that has acted as a stiff resistance on previous occasions. If this level is also crossed, the rally can extend to $40.2919564. A drop below the recent low of $17.7997862 will turn the pair negative.

IOTA/USDT

Iota (IOTA) wants to make the ecosystem easy to use and safe for organizations, large token holders and liquidity providers. It is exploring various measures by which these players, who form an important part of the ecosystem, can be supported adequately. Iota will sponsor the first inaugural Texas Smart Cities Summit that aims to bring various visionaries to discuss the actions needed to accelerate smart city efforts across the state. Luxury fashion brand Alyx will also partner with IOTA to improve the transparency of its supply chain.

IOTA/USDT

The IOTA/USDT pair has been range bound between $0.244553 and $0.385033 for the past few weeks. The bulls had broken out of the range during the week, but failed to sustain the higher levels. If the price fails to close (UTC time frame) above the range, the consolidation will extend for a few more weeks.

On the other hand, if the price ascends the overhead resistance, it is likely to start a new uptrend that can carry the price to $0.50 and above it to $0.80. The pair will weaken if the bears sink the price below the support of the range.

Market data provided by HitBTC exchange. Charts for analysis provided by TradingView.

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My Bank Account Was Frozen for Bitcoin – And It Only Made Me Love Crypto More

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Mike the HODL Guy describes his first experience buying Bitcoin and the resulting freeze on his bank account.

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NEO Price Prediction: Long-term (NEO) Value Forecast – May 19

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  • NEO/USD still in a bullish trend outlook in spite of a notable line of declines in its market valuation.
  • The two SMAs have now formed together to define the NEO/USD trade’s movements to the north direction.

NEO/USD Long-term Trend – Bullish

  • Distribution territories: $16, $18, $20
  • Accumulation territories: $8, $6, $4

In spite of a notable decline that occurred between May 16 and 18 in the NEO/USD market valuation, the crypto-pair’s trend is yet in a bullish outlook. After a slight kind of erratic price movements in the crypto-trade on May 13, the market eventually got push to test a price value at $14 mark on May 16.

Shortly, the crypto-trade began to make a retracement move to touch the two SMAs at their touching point located a bit over $10 horizontal line. Presently, the crypto has been seemingly striving once again to regain its momentum around the touching location of the 14-day SMA and the 50-day SMA indicators. The Stochastic Oscillators are now attempting to close hairs at range 60.

Most of the trading indicators still point to the north to suggest that the bulls are in control of this crypto-market. The two trading SMAs have slightly joined together at a point a bit over $10 mark to seemingly end the correction from a high value at $14 mark. Therefore, the market is now expected to surge northwards further past its aforementioned high point.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Bitcoin and Blockchain: The Tangled History of Two Tech Buzzwords

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“I’m interested in blockchain, not bitcoin.”

Admit it, you’ve heard this hundreds, if not thousands, of times. (You might have even said it yourself.) And sure, people know what you’re saying, you’re talking about the “technology underlying bitcoin” and you sound smart enough.

Once it became known – or at least presumed – that you could apply cryptography in finance, in ways similar to how it’s used in bitcoin, everyone started making sure that statement fell from their lips. And that refrain – kicked off by bitcoin itself – remains powerful today.

Sounds plausible? Sure. But, interestingly, the word “blockchain” doesn’t actually appear in the original bitcoin white paper, released back in 2008. Rather, the white paper uses the words “block” and “chain” separately many times.

It describes the word “block” as the vehicle for a bundle bitcoin transactions. Then, these blocks of are linked together, forming a “chain” of “blocks.”

bitcoin, paper

Snapshot from the bitcoin whitepaper (highlighting added)

So, who created this ultimate industry buzzword?

That damn blockchain

Turns out, the origins of the word are not quite so revolutionary.

“The word blockchain was never used in the early days,” former bitcoin developer Mike Hearn told CoinDesk. Although, Hearn did acknowledge that Satoshi often referred to bitcoin’s “proof-of-work chain” in discussions on forums.

It seems the first references to the word came about on Bitcoin Talk, a bitcoin-specific forum created by Satoshi, in July 2010 – more than a year after bitcoin’s release.

And at that time, these remarks weren’t about how innovative the technology was, but instead were complaints about how long it took to download the bitcoin “blockchain” (the entire history of bitcoin transactions).

While compared to today, the download would have far faster, according to one Bitcoin Talk user: “The initial blockchain download is quite slow.”

In other words, initially, blockchain was far from the sexy word it is today.

Blockchain mania

It’s hard to pinpoint exactly when the word really took hold.

But interest in the term seems to have sprung out of professional organizations and individuals hesitance to align themselves with bitcoin itself because of its bad reputation as the currency for drugs and gray economies.

“I think it [became popular] around the time people started going to Washington [D.C.] and trying to make bitcoin respectable by divorcing the currency from the underlying algorithms,” Hearn said.

To many, bitcoin the currency could be decoupled from bitcoin the blockchain protocol, and so a whole new industry of so-called “private blockchains,” devoid of a cryptocurrency, emerged. Sure enough, around that time in 2015, Google Trends data show the term surged.

Graph from Google Trends.

“Initially people said ‘block chain’, and then, thanks to a great PR campaign, we were blessed with the much improved ‘blockchain,’ single-word, probably thanks to a community-wide effort near and around the Bitcoin Talk forums,” long-time cryptocurrency developer Greg Slepak said.

Not only did it become one word, but it also came in vogue to describe any blockchain that wasn’t bitcoin’s blockchain as “a blockchain.” Bitcoin got to keep the terminology “the blockchain,” giving credence to the fact that it was the first.

Yet blockchain has become so divorced from bitcoin that both words typically see a similar spike when cryptocurrency prices start mooning. For instance, the word blockchain saw a huge uptick in Google searches in late 2017.

blockchain, google trends

Graph from Google Trends.

World’s first blockchain?

Still, it’s unclear exactly where the idea itself begins. To some, blockchains existed even before bitcoin, although that term wasn’t applied to them back then.

For instance, cryptographer Stuart Haber, whose whitepapers on timestamping were cited in the bitcoin white paper, claims to have created the first blockchain called Surety.

According to Haber, that has to be the reason why Satoshi cited his work – three times out of just nine total citations. Surety was launched in 1995 for timestamping records, and it’s still running today.

Yet, Haber admits that his version doesn’t have all the same benefits of bitcoin since it’s centralized – managed by one company.

And that highlights where things get tricky when you’re talking about a blockchain. See, there isn’t necessarily agreement on a single definition of a the technology.

The Merriam Webster dictionary actually presents a much older word for blockchain – “a chain in which the alternate links are broad blocks connected by thin side links pivoted to the ends of the blocks, used with sprocket wheels to transmit power, as in a bicycle.”

While Google defines blockchain as:

Google, blockchain

But, for those seasoned veterans of the space, even this definition is problematic. Many of these new-age private blockchains don’t record their transactions publicly.

“The term has become so widespread that it’s quickly losing meaning,” as The Verge put it earlier this year.

Blind men

Haber pointed to an Indian parable to help explain the incompatible descriptions.

In the parable, a group of blind men come upon an elephant and start touching the animal to try and figure it out what it was in front of them.

Depending on what part of the elephant each man is touching, their answer changes. For instance, one of the blind men, touching the elephant’s trunk, thinks it’s a snake, while the other, touching the elephant’s leg, exclaims it’s a tree trunk.

It’s similar when people define blockchain, Haber said.

He told CoinDesk:

“Some definitions will be completely silly, showing that people don’t understand what they’re doing, but there will also be a bunch of accurate descriptions of various parts of the vast body of work.”

As such, he argues there isn’t just one meaning.

Even though, bitcoiners believe a blockchain can only be the one and only bitcoin blockchain, like words, definitions are always evolving and changing.

Blockchain shirt image via CoinDesk archives

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