EOS, the fourth largest cryptocurrency on CoinMarketCap was surging for the past few days. This hike can be linked to the release of Weiss Crypto Rating’s annual crypto report. It awarded EOS the second position and an A grade for its promising tech/adoption for long-term investors and an attractive risk/reward for short-term investors.

At press time, EOS was valued at $4.26, with a market cap of $3.86 billion. The cryptocurrency noted a 24-hour trading volume of $2.67 billion, while noting a growth of 4.56% over the past day. The token surged massively over the past week and reported a whopping 14.14% growth.

1-hour

Source: TradingView

On the one-hour chart, a sharp uptrend from $3.791 to $4.379 was noted. Due to the ongoing surge, the coin failed to report a significant downtrend in the short-term. The resistance was marked at $4.379 and the support was at $3.692.

Bollinger Bands indicated a bullish trend as the moving average line aligned under the candlesticks. The bands appeared to converge however, indicating reduced volatility in the market.

Awesome Oscillator pictured a bearish market losing momentum.

Chaikin Money Flow pointed to a bullish trend as the marker stayed above the zero-line.

1-day

Source: TradingView

The one-day chart for EOS marked a downtrend from $5.612 to $1.757, and was followed by an uptrend. The price of the coin surged from $1.849 to $3.682. It marked resistance at $4.341 and support at $2.355.

Parabolic SAR marked a bullish market as the markers were aligned below the candlesticks.

MACD line was over the signal line, pointing towards a bullish market.

Relative Strength Index indicated that the buying and selling pressures had evened each other out. However, it was close to the overbought zone.

Conclusion 

According to a majority of the indicators on the short-term and long-term charts, a bullish hold over the coin was seen. However, the bears had not left the market yet.

The post EOS Price Analysis: Cryptocurrency surges by 14% as EOS gets podium finish on Weiss Ratings appeared first on AMBCrypto.

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