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EOS (EOS) fails to break downtrend despite reporting significant rally over the last week or so

Since September last year, EOS (EOS) has been on a massive downtrend. The coin has sparked a bit, but the general outlook ever since has been downward. There was however some hope that the rally in recent days could trigger a sustained climb. It did not happen, and here are some highlights:

  • At press time, EOS (EOS) had fallen by nearly 8% over the last 24 hours, trading at around $2.38

  • The coin has however rallied by nearly 40% over the last two weeks.

  • Despite this surge, crucial indicators show that EOS (EOS) still remains in the bear market.

Data Source: Tradingview.com 

EOS (EOS) – when will the downtrend break?

We will need to see some sustained gains over a longer period of time for EOS (EOS) to report a decisive breakout on the up. The $3 dollar mark appears to be a crucial resistance zone. We did see EOS (EOS) climb past that late last year but failed to hold any gains. 

In fact, some analyst argues that surging above $3 will be decisive for EOS (EOS) in its effort to transition into a bull run. Besides, the RSI readings are neutral, suggesting that there is enough potential for the token to surge. 

At the time of writing, EOS (EOS) was trading at $2.62. There is still some way to go before $3, but going by recent rallies, it is possible.

Why you should buy EOS (EOS)?

There are hundreds of crypto assets that must be in your portfolio, and EOS (EOS) is one of them. The platform bills itself as the ultimate DAPP development suite. 

It simply gives developers the tools to create and deploy innovative decentralised apps. At the moment, EOS (EOS) has a market cap of around $2.3 billion. This makes it a decent option for unlocking long-term value.

The post EOS (EOS) fails to break downtrend despite reporting significant rally over the last week or so appeared first on Coin Journal.

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Crypto Inu (ABCD) tanks by over 30% barely 24 hours after launching a new DeFi deflationary token

Crypto Inu (ABCD) has announced the release of a new DeFi deflationary token. The community token is designed to combine charity support and staking for users. But the news did not immediately trigger a buying bonanza. Instead, Crypto Inu (ABCD) has fallen sharply.

  • Despite the news, the coin opened trading on Saturday around 30% lower.

  • Crypto Inu did however manage to pair up some of these losses and was trading at $0.0000001769 at press time, 21% down.

  • But analysts believe that as the Crypto Inu ecosystem expands, more gains will come in the future.

Data Source: Coinmarketcap.

Crypto Inu (ABCD) – what the future holds

Crypto Inu is a play-to-earn blockchain game that incorporates NFT rewards. It is basically a board game that is trying to bring virtual reality and 3D integration into the experience. The coin right now has a market cap of about $8.5 million. 

It is quite literally a microcap, and there is just a lot to gain from it. The fact that ABCD is also adding new features into its ecosystem is a sign that it is headed in the right direction. As we start to see, the crypto market picking up in the coming days, expect ABCD to also see some gains in the long run.

Why you should consider Crypto Inu (ABCD)

There are several reasons why investors would prefer certain crypto assets over others. However, the key factor is always that upside for growth. Crypto Inu (ABCD) looks more or less like a new coin. 

There is still so much to come from it when you consider its small market cap of around $8.5 million. Besides, NFT based games are exploding right now. Although there is a lot of competition, you’d expect Crypto Inu to earn some market share in the coming months.

The post Crypto Inu (ABCD) tanks by over 30% barely 24 hours after launching a new DeFi deflationary token appeared first on Coin Journal.