EOS (EOS) cryptocurrency has observed a decrease in its bearish momentum as the strong downward trajectory appears to have been broken. EOS coin continues to be bearish but the price action is consolidating with decreased volatility. At the time of writing, EOS stands at a price level of $3.66. The price has declined less than one percent in the past twenty-four hours while the trading volume has declined by 20%. The twenty-seventh largest cryptocurrency is in an indecisive zone.
The market outlook for cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, fourteen are giving out an indication of sell with ten indicators standing at a neutral position and only two signals bullish at a buy indication. The oscillators are neutral while the moving averages persist at a bearish outlook in the daily timeframe.
What is EOS and is it a good investment in 2021?
EOS is working towards the mainstream adoption and acceptance of blockchain technology. The platform of EOS is designed to help developers create decentralized applications with ease. In order to achieve its goal of blockchain technology’s adoption, EOS’s unique offering is the ease and simplicity of use. When compared with rivals, the platform of EOS comes out to be more user-friendly. EOS also takes further steps to ensure a better user experience through a variety of educational resources made available on the network for developers.
But is it a good investment in 2021? EOS is the twenty-seventh largest cryptocurrency in the market. Generally speaking, it is expected of legit cryptocurrencies to grow in the long term as blockchain technology will become increasingly relevant in the future. But with EOS’s vision, its focus of user experience, and scalability, the project can be considered one of the good bets in the market.
The price projections for EOS in the long-term are also bullish. Wallet Investor estimates the cryptocurrency to be operating at a price level of $4.67 in a year’s time while the five-year projection estimates a price level of $6.21. Digital Coin Price is more bullish on the cryptocurrency’s future. Per their estimates, EOS crypto will be standing at a price level of $5.4 by the end of the year while the price in 2028 is expected to be $16.54.
