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#EOSProject EOS is a blockchain platform designed to support decentralized applications (DApps) with high speed, low transaction fees, and good scalability. Below are some impressions and evaluations of the EOS coin:
Advantages:
Speed and Scalability: EOS uses the Delegated Proof-of-Stake (DPoS) consensus mechanism, allowing for thousands of transactions per second (TPS). This is very suitable for applications that require high performance.
Low Transaction Fees: One standout feature of EOS is its nearly zero transaction fees, helping developers and users save costs.
Strong Ecosystem: EOS has a large developer community and supports many DApp projects. This contributes to creating a rich development environment.
On-Chain Governance Mechanism: EOS integrates a governance mechanism, allowing the community to vote and decide on important changes in the network.
Disadvantages:
Centralization: The DPoS mechanism concentrates power in a small number of Block Producers, leading to concerns about the level of decentralization.
Intense Competition: EOS faces competition from other blockchain platforms such as Ethereum, Solana, Avalanche, and Cardano, which also offer similar solutions with their own improvements.
Governance Issues and Controversies: EOS has faced some controversies regarding governance and resource distribution. These issues can affect the trust of investors and users.
Ecosystem Stagnation: Although it was once very prominent, the EOS ecosystem has seen a decline in attention compared to other competitors, making it no longer a top choice for new projects.
Current Price: 96,552 USDT, down 0.71% on the day.
Last 24 Hours:
High: 97,839.50 USDT.
Low: 95,924.60 USDT.
Price is hovering near the EMA(200) support level at 95,483.30 USDT, indicating a significant support zone.
2. EMAs:
EMA(7) (yellow line): Is above the price, indicating short-term bearish pressure.
EMA(34) and EMA(90) (pink and blue): Price is hovering near this EMA, indicating the market may be in a sideways state or preparing for a new trend.
EMA(200) (green): This is a strong support line, the price is currently holding above this level, if it breaks it could lead to a deep decline.
3. Trading volume (Volume):
Volume increased sharply at some points during the day, possibly due to the participation of large traders. However, the volume has recently decreased, indicating weaker momentum.
4. Other indicators:
MACD and RSI (not clearly shown on the image but can be observed on the floor): Consider if RSI is near the oversold zone (below 30), this could be a buy signal. If it is near the overbought zone (above 70), be careful because the price may correct.
5. Support and resistance zones:
Short-term support: 95.483 USDT (EMA200).
Short-term resistance: 97.839 USDT (recent peak).
Trading Strategy:
If the price stays above the EMA(200) and the volume increases again, consider buying when the price breaks the resistance of 97.839 USDT.
If the price breaks the EMA(200) support, be careful because the price may fall further, to the 93.500 USDT area.
* Current price: $94,028.52 (slight decrease of 0.08%) * Trend: The price is trending upwards, but there are signs of a slowdown recently. * Moving averages: EMA 7, 34, 90, and 200 indicate that the price is fluctuating around these averages. * Trading volume: The trading volume in the past 24 hours is quite large, indicating that there is interest in Bitcoin in the market. Overview: The chart shows that Bitcoin is in a long-term growth trend. Consider accumulating more BTC when the price reaches support levels. #BtcNewHolder $BTC $BNB
The chart is showing a descending triangle price pattern with converging resistance and support lines.
When the price breaks out of the triangle (breaks above resistance or breaks below support), this is usually a signal for a new trend.
Resistance and Support Zones:
Current Resistance: 97,861.49 USDT.
Major Support: 90,500.00 USDT and 86,477.33 USDT.
For short-term trading, you can take advantage of bounces at support zones or resistance breakouts.
Volume:
If the price breaks an important level with high volume, the signal is stronger.
Strategy:
Buy (Long): When the price breaks above the EMA(90) or breaks the resistance line of the descending triangle, especially if the volume increases sharply.
Short: When the price falls below the EMA(90) or breaks the support line of the triangle, accompanied by increased volume.
Trendline: The chart has a downtrend line, defined by lower highs combined with lower lows. The long-term downtrend line is still dominant.
Moving averages (EMA):
EMA(7) (yellow) is above EMA(34) (pink), indicating a short-term uptrend is forming.
Price is near EMA(7) and EMA(34), but still below EMA(90) (green) and EMA(200) (green). This shows that the market is still in the accumulation or correction phase in the downtrend.
Support and resistance levels:
Nearest resistance: Zone 738.39 (on the chart).
Strong support: Zone 674.16, price is holding firmly above this level.
2. How to trade with the trend:
If you want to trade with the short-term trend:
Buy (Long):
Wait for the price to break and hold above the resistance line of 738.39 with a large trading volume. This is a signal to confirm the reversal of the uptrend.
Or wait for the price to adjust to the support zone of 674.16 and bounce back.
Set a stop loss below the support level of 674.16.
Short:
If the price cannot break the resistance of 738.39 and there is a strong bearish signal, you can enter a short order when the price turns around.
Or wait for the price to break the support of 674.16 to continue the long-term downtrend.
The price has reached a peak of 108,353 and is currently declining.
The EMA lines (7, 34, 90, 200) indicate that the short-term trend is weakening.
Important support level is at 87,545.30.
Pattern:
The chart suggests a bearish pattern with the expectation that the price will test lower support levels, particularly around 63,769.94 in the medium term.
Entry to short position
Entry point:
If the price breaks 96,440 strongly with high trading volume, you may consider a short entry.
Additional confirmation if the price breaks below support 87,545.30.
Take profit point:
Next support area: 87,545.30.
Major target area: 63,769.94.
Stop loss:
Set a stop loss above the nearest resistance area 107,768.87 to limit risk if the price reverses.
Note:
Monitor price action and trading volume for confirmation.
Current Price Trend: Current price is 95,383.50, which is right above the MA200, indicating that the price is trying to maintain an important support zone. If the price breaks below the MA200, it could continue to decline, confirming the long-term downtrend.
Trading Recommendation:
If the price holds above the MA200: This could be a buying opportunity with bullish expectations, the nearest target could be the resistance zone of 98,838.40 or further to 109,245.65. However, it is necessary to place a stop loss just below the MA200 to reduce risk.
If the price breaks below the MA200: This is a sell signal, especially if the candle closes below the MA200. The downside target could be the support zone of 88,431.15 or deeper at 78,023.90.
Additional factors:
Short-term MAs such as EMA7 (yellow) and EMA34 (red) are currently pointing down, signaling increasing selling pressure.
Look at the trading volume (24h volume) to confirm the strength of the trend. If the breakout is accompanied by high volume, the downtrend will be reinforced.
Summary:
Buying strategy: If the price holds above the MA200, buy with a stop loss around 94,000.
Sell strategy: If the price breaks below the MA200, sell and target a deeper decline.
Current Price Trend: Current price is 95,383.50, which is right above the MA200, indicating that the price is trying to maintain an important support zone. If the price breaks below the MA200, it could continue to decline, confirming the long-term downtrend.
Trading Recommendation:
If the price holds above the MA200: This could be a buying opportunity with bullish expectations, the nearest target could be the resistance zone of 98,838.40 or further to 109,245.65. However, it is necessary to place a stop loss just below the MA200 to reduce risk.
If the price breaks below the MA200: This is a sell signal, especially if the candle closes below the MA200. The downside target could be the support zone of 88,431.15 or deeper at 78,023.90.
Additional factors:
Short-term MAs such as EMA7 (yellow) and EMA34 (red) are currently pointing down, signaling increasing selling pressure.
Look at the trading volume (24h volume) to confirm the strength of the trend. If the breakout is accompanied by high volume, the downtrend will be reinforced.
Summary:
Buying strategy: If the price holds above the MA200, buy with a stop loss around 94,000.
Sell strategy: If the price breaks below the MA200, sell and target a deeper decline.