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EOS technical analysis

XRP, Bitcoin SV, EOS Technical Analysis on 24rd August 2020

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The brakes are being pulled on the altcoin rally at the moment. After close to 3 weeks of the bullish rally, the majority of the digital assets were exhibiting strong corrections on the market charts. While the correction has slowed down over the past day, the trend is still significantly bearish at the moment.XRP, Bitcoin SV, EOS technical analysis is given below

XRP hourly chart

XRP tron 1 e1598266605796

Since 17th August, XRP has declined dropped from $0.32 to its present valuation at $0.290. Although the price has undergone a minor hike of 3.07% in the past day, it remains fairly in the bullish realm. XRP market capitalization jumped above $13.02 billion after topping off near $14 billion a few days back. With a trading volume of $1.24 billion, XRP maintained its position as the 3rd largest digital asset.

Now, market indicators suggested that XRP might be entering a period of another bullish rally. Chaikin Money Flow or CMF suggested that the token had high capital inflows than outflows as MACD suggested that a bullish crossover in the charts. Bollinger Bands for XRP suggested a neutral trend as the bands appeared to be parallel to each other.

Bitcoin SV hourly chart

BSV tron e1598266761965

For Bitcoin SV, it is currently near its resistance at $199. The last time BSV was valued below this range was on 27th July. However, the asset’s inability to maintained a price higher than $217 has now entertained a huge retracement. However, Bitcoin SV had registered a gain of 3.10 percent over the past day.

Bitcoin SV is currently the 8th largest digital asset with a market capitalization of $3.68 billion. Analyzing the Relative Strength Index or RSI for BSV, it can be suggested that buying pressure is slowly taking over in the markets, as Bollinger Bands exhibited more volatility going forward.

BSV’s Parabolic SAR was bullish as well with the dotted indicator firmly under the candlesticks.

EOS hourly chart

EOS tro

12th ranked EOS continued to have a poor 2020. The token that was once ranked 4th in the charts currently exhibited a low market cap of $3.17 billion at the moment. For EOS, markets have remained rather neutral with the occasional surge and spike in prices. Although the token has dipped over the past week, it continues to exhibited tepid volatility levels as the valuation continued to be under the resistance of $3.40.

Aroon indicator suggested that the price may under another bearish onslaught as the bearish market completed a reversal over the bullish market. However, Awesome Oscillator pictured positive momentum as the candlesticks turned green at the end of the indicator.

Chainlink, Litecoin, EOS Technical Analysis on 16th August 2020

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The collective cryptocurrency market appeared to be in a consolidation phase. The market cap was registered at a whopping $373 billion, a level unseen since May 2018. While Bitcoin has faced multiple rejections at the coveted $12k-level, several altcoins have, however, sprung up in action.

Joining the bandwagon are coins such as Chainlink [LINK], Litecoin [LTC], and EOS, which have witnessed a substantial rise in their values over the last 24-hours.

Chainlink [LINK]

chainlink technical analysis

Chainlink has been in the spotlight for quite some time now and has been one of the best-performing assets among the top coins. As the weekend dawned, LINK soared to a new all-time high. Meanwhile, it recorded a surge of 13.21% over the last 24-hours which catapulted its value to $18.93 at the time of writing.

Moreover, it registered a market cap of $6.64 billion along with a 24-hour trading volume of $2.538 billion.

As the fifth-largest altcoin continued to build on gains, the green closing bars of Awesome Oscillator indicated a positive course for the coin’s price in the near-term. Further exhibiting a bullish trend was the Chaikin Money Flow indicator as it hovered in the bullish territory.

Litecoin [LTC]

litecoin technical analysis

Over the past year, Litecoin fell to the eighth position. After subsequent downfalls, LTC appeared to be slowly moving ahead and targeted a local top. At press time, the cryptocurrency noted a market cap of $4 billion with a 24-hour trading volume at $3.28 billion. LTC was being traded at $61.41 and was up by 6.91%.

The indicators failed to back up the latest surge in the coin’s valuation. This was evidenced by the bearish Klinger Oscillator. After a brief tryst with the bears, the MACD appeared to be heading for a bullish crossover.

EOS

EOS technical analysis

Despite not much significant developments on the tech side, EOS was the second-best performing asset in the last 24-hours among the top 20 coins, trailing behind LINK. It was up by 11.12% over the last 24-hours which drove its price to $3.75, at the time of writing. Furthermore, EOS recorded a trading volume of $5.12 billion over the past day while its market cap stood at $3.50 billion.

The dotted markers of Parabolic SAR hovering below the EOS candles depicted a bullish phase for the tenth-largest coin. Following the latest upsurge, the Relative Strength Index [RSI] shot up to the overbought region. This could essentially lead to a decline in demand among the traders of the coin with a subsequent decline in its price in the near future.