Right now i don’t like EOS price action in all honesty. However, i noticed that some kind of arc is forming.
I said “a bit of a long shot” in the title because this is the weekly chart and i don’t usually plan trades that are this long.
However, when playing with timeframes of multiple months, i like to take a look at the fundamentals of the project too.
Specifically, EOS plans to release their own exchange (“Bullish” is the name if i’m not mistaken) later this year/early 2022. This exchange will have a feature others don’t currently have: it will store every single transaction on the EOS blockchain itself. I can see the release of the exchange being a major catalyst for EOS’s price.
All in all, i like this trade and i took a position. My average is something around the $4.9 mark.
I strongly advice you to do your own research on this own because there are some kind of controversial topics regarding the project itself (specifically on the ICO).
Good luck!
I said “a bit of a long shot” in the title because this is the weekly chart and i don’t usually plan trades that are this long.
However, when playing with timeframes of multiple months, i like to take a look at the fundamentals of the project too.
Specifically, EOS plans to release their own exchange (“Bullish” is the name if i’m not mistaken) later this year/early 2022. This exchange will have a feature others don’t currently have: it will store every single transaction on the EOS blockchain itself. I can see the release of the exchange being a major catalyst for EOS’s price.
All in all, i like this trade and i took a position. My average is something around the $4.9 mark.
I strongly advice you to do your own research on this own because there are some kind of controversial topics regarding the project itself (specifically on the ICO).
Good luck!