EOS/USD bullish trend revamped: Strong ‘buy’ signal- says Weiss Ratings

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  • EOS balance at $5.5 after hitting $5.8 weekly highs.
  • Weiss Ratings categorize EOS, Ripple Cardano and Stellar as “Buy” assets.

EOS extended the gains started on Sunday last week. Like the other assets in the market EOS has been trading higher highs and higher lows. The uptrend using the trendline as a solid bounce wall, the price achieved weekly highs of $5.8. Investors were expecting continued growth above $6 but EOS changed the trend dropping below $5.7 before finding a support faintly above $5.5.

At the moment, EOS/USD is dancing with $5.6 supported immediate by the 100 SMA (1-hour chart). The bullish trend that is underway will face resistance at the 50 SMA while the key resistance is at $5.8. Moreover, a correction above $5.8 will see EOS reignite the trend above $7.0. Signals are positive, for now; the RSI is pointing north and the MACD signal line has changed direction towards the mean level as observed on the chart below.

In the recently released report by Weiss Ratings; a platform that rates and reviews both cryptos and stocks several assets including EOS were said to have “Buy” rating. Among the 111 rated cryptos, EOS, XRP, Stellar and Cardano are ripe for buying. The ratings take into account the technology model, adoption, investment and reward models.

EOS/USD 60-minutes chart

 

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