EOS Price Analysis: Will it go to $10? Tuesday, August 7

EOS Price Analysis

EOS is presently trading at $7.12. This is 1.86 percent increment compared with the past 24 hours. The coin like most altcoins has seen a lot of volatility in the past several hours after trading below the range for two days. Some analysts expected a break at $5.1 with support located at $4.3396 but the coin has seen the bulls defend the bottom range with consolidation expected at the $6.8926 — $9.4456 range.

With moving averages turning down, the market is still an uncertain one unlike a situation in which it remained flat. Taking a long position may not be advisable at this time. A major resistance is at $7.50 and the market situation will likely change at this point in terms of sellouts. This is a decisive point at which the bulls and the bears shall struggle. However with a sustained pressure by the bulls, the position will move towards the $10 mark. Presently, the coin has formed a solid support at $6.80.

Analyst predict Price of EOS in 5 Years

Apparently buoyed by the success Bitcoin has had in a decade, many analysts are predicting even wildly the future value of tokens such as eos. One analysis from Smartethereum has pegged the coin at $145 in five years. Although there was no fundamental data or metrics on which this was based, it is obvious that many of these analyses is predicated on the pattern of movement for Bitcoin.

Nevertheless, there is no gainsaying that the coin has its own merit, perhaps advantages that could give it leverage far more than the premier coin had it inception. In reality, the gain made by many coins is based on the awareness Bitcoin created for the coin market.

EOS strength lies on its scalability, smart contract and dApp support enabling third parties to run multiple decentralized applications.

EOS/USD Price Chart, Tuesday August 7th:

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