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EOS Surges On With A 5% Spike, Is A $10 Position Possible?

04 january 2019, 01:01 by John Kiguru

EOS Surges On With A 5% Spike, Is A $10 Position Possible?

EOS is today leading the bullish charge sweeping the market. The market is still struggling to record substantial gains with most coins only recording marginal gains. EOS is at the time of press one of the best performers with 5% price spike.

Today’s gains further extend the coins gains from yesterday after yet a great performance to kick off the year. The bulls are now aiming for a retest of the $3 position, which the coin tested on 24th December. Although then prices quickly dropped after hitting this key level, there’s now great determination to hit it and break past it. A position above it will see it establish a higher support level, a position below $2 has always hurt the coins prospect and the bulls will try to steer clear of it.

When EOS was launched back in 2017, there was great optimism over its future. After fundraising for nearly a year and gathering $4.1 billion, the coin was off to a good start. For most of the early investors, they made their greatest gains when the coin hit an all-time high of $21 in April of 2018.

The ride however made a turn for the worst from there and it is only now that the coin seems to be attempting to get back to its highs. In the short term, the coin will be looking for a position above $3, a position that will help it consolidate momentum to soar on.

In the long term, a position above $10 is almost inevitable given the prospect offered by the EOS project. EOS is regarded as the greatest competitor of Ethereum and many experts have noted that EOS has proven it has the potential to become bigger than Ethereum, becoming the largest Dapp platform.

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