EOS Coin Analysis: Collaboration With CoinTR Lifts Price

11.12.2023

1 EOS Coin Analysis: The company has partnered with CoinTR to drive up Web3 innovation in Turkey.
2 EOS has also partnered with PassPay, a Japanese company.
3 The chart shows that the buyers failed to hold the price above the 200-day EMA.

In April 2023, the EOS Network Foundation launched EOS EVM, an initiative that enables Ethereum compatibility on EOS. EOS EVM offers exceptional performance, a deflationary gas fee burning mechanism, and a generic cross-runtime messaging between EOS EVM and EOS Native to act as a bridge between the two virtual machines.

EOS Collaboration With the CoinTR

The EOS Network Foundation has partnered with CoinTR to drive up Web3 innovation in Turkey. Celestia, on the other hand, has recently integrated with Ethereum’s L2s, leading to a significant surge in its market value. VC Spectra (SPCT) is an emerging contender in the industry, poised to challenge established giants like EOS (EOS) and Celestia (TIA).

This strategic partnership aims to support and foster local development and global collaboration. EOS has seen a commendable increase in its price over the past week.

Previous Partnership With PassPay

EOS has also partnered with PassPay, a Japanese company that holds the only license in Japan for a regulated stablecoin for the Japanese Yen. This partnership showcases the potential of EOS in the stablecoin sector for everyday banking applications.

Technical Analysis and Prediction of EOS Coin Price

EOS/USD chart by TradingView (Daily time frame)

Experts predict that bears will lead the rally in EOS crypto price. Technical analysis shows that EOS buyers failed to hold the price above the 200-day EMA. If EOS breaks the support level of $0.60, crypto analysts predict that the price will reach $0.50 by the end of 2023. This has left EOS investors worried and looking for better options.

Moreover, the coin is already trading on the immediate resistance level of $0.838. The bullish investors look forward to surfing the 50-day EMA at $0.692. In addition, the 50-day EMA has done a bullish crossover with the 150-day EMA. If the bulls get dominated by the bears, then the immediate support level is at $0.701 and further at $0.625. The price prediction, as per the current analysis, is bullish.

Pivot Range Table

Pivot	Classic	Fibonacci	Camarilla	Woodie
S3	0.40	0.54	0.64	0.46
S2	0.54	0.59	0.65	0.54
S1	0.61	0.63	0.67	0.61
P	0.68	0.68	0.68	0.68
R1	0.75	0.74	0.69	0.75
R2	0.83	0.77	0.71	0.82
R3	0.97	0.83	0.72	0.89

Conclusion

The EOS Network Foundation has partnered with CoinTR to drive Web3 innovation in Turkey. This strategic partnership aims for emphasizing local development and global collaboration. Experts predict that bears will lead the rally in EOS coin and the price prediction, as per the current analysis, is bullish.

Technical Levels

Support Levels: $0.701 and $0.625
Resistance Levels: $0.838 and $0.701

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.

Source

Click to rate this post!

[Total: 0 Average: 0]

11.12.2023