The price of #EOS is currently facing a significant challenge as it struggles to surpass the $1.15 mark against the US Dollar, much like Bitcoin. However, there is a possibility of a price recovery if it manages to make a clear move above $1.12. 

Over the last few days, the price of EOS has made a valiant effort to recover from the $0.950 zone against the US Dollar. In a promising turn of events, the price has successfully surpassed both the $1.00 and $1.05 resistance levels.

The bulls successfully drove the price above the crucial $1.12 level and the 100 four-hour simple moving average. Additionally, the price cleared the 23.6% Fibonacci retracement level of the downward move from the $1.341 swing high to the $0.9550 low. Despite these positive developments, the bears were still active near the $1.15 resistance.

The price has recently experienced a significant drop, beginning from the resistance zone of $1.15. Unfortunately, it was unable to surpass the 50% Fibonacci retracement level, which is a crucial indicator of the downward movement from the $1.341 high to the $0.9550 low.

The EOS/USD pair has experienced a significant drop below a crucial rising channel, which had support near $1.10. As per the 4-hour chart, the pair is currently trading below $1.13 and the 50 four-hour simple moving average.

Firstly, there is an immediate resistance at the $1.10 level. Additionally, the first major resistance is located at the $1.15 level, and if the price surpasses this level, it may test the $1.200 level. If the price continues to rise and surpasses the $1.20 level, it could initiate a steady increase towards the $1.25 level. Further gains could potentially send the price towards the $1.30 level.

If EOS fails to cross above $1.10 resistance, then there is an immediate support level at $1.00. Additionally, the next crucial support level is at approximately $0.965. However, if the price falls below this level, there is a possibility that it could test the $0.920 support level in the near future.

KEY LEVELS :

RESISTANCE LEVEL : $1.10-$1.15

SUPPORT LEVEL : $1.00-$0.95

#crypto2023 #coingabbar

Disclaimer: #crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. However, it's crucial to do your own research #dyor and assess the risks involved before investing in any market.

Yves La Rose, the CEO of EOS Network Ventures, has announced a $20 million investment into EOS EVM and GameFi projects. La Rose made the announcement via Twitter on March 20, stating that EOS EVM would redefine the limits of what’s possible with an EVM and that it was BY FAR the fastest EVM on the market.

EOS is an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. As a third-generation blockchain platform powered by the EOS virtual machine, EOS has an extensible WebAssembly engine for deterministic execution of near fee-less transactions.

La Rose’s announcement stated that with $20 million of funding available, EOS EVM would have the most funding available for builders. He also highlighted that EOS EVM is 25x faster than AVAX and 3x faster than Solana or BNB. La Rose believes that the $20 million commitment from ENV has the goal of quickly establishing EOS EVM as the market-leader.

With $20 million of funding available, La Rose expects a massive influx of developers who want to take advantage of the funding opportunities. La Rose hopes that the funding commitment will attract the industry’s best developers and teams to build on EOS EVM. He noted that while having the best tech is cool, in this industry, people chase more than just tech.

The EOS Network is attractive because of its technology and community. It allows developers to build projects that other blockchains cannot support. The network is straightforward and has multiple tools and educational resources to help users acclimate to the blockchain.

The announcement is a significant boost for the EOS Network Foundation, and the investment should help to strengthen the EOS EVM’s position in the market. The $20 million commitment is a clear indication of EOS’s commitment to attracting the best developers and teams to build on the EOS EVM.

The announcement also highlights the growing interest in GameFi, which combines blockchain technology with gaming. GameFi has become increasingly popular in recent months, and many blockchain platforms have launched their GameFi ecosystems. EOS’s $20 million investment in GameFi projects should help to attract developers and teams to build on the EOS EVM and drive innovation in this exciting new space.

In conclusion, La Rose’s announcement is an exciting development for the EOS Network Foundation and the wider blockchain community. The $20 million investment in EOS EVM and GameFi projects should help to attract the best developers and teams to build on the EOS Network, drive innovation, and establish EOS EVM as the market-leader.

#EOS #GameFi #EOSEVM #azcoinnews #crypto2023

This article was republished from azcoinnews.com

The price of #EOS is currently facing a challenge as it struggles to surpass the $1.20 mark against the US Dollar, much like Bitcoin. However, there is a possibility of a price recovery if there is a clear and decisive move above the $1.20 threshold.

Over the last few days, the price of EOS has experienced a significant decline from the $1.35 range against the US Dollar. The price has fallen below both the $1.25 and $1.22 levels, indicating a shift towards a bearish market.

On the 4-hour chart of the EOS/USD pair, a significant bullish trend line was breached with support near $1.20. This resulted in the pair plummeting below the crucial $1.20 support zone and settling well below the 200 hourly simple moving average. 

The price of the asset had dipped to a low of $1.103, but has since shown signs of a minor upward correction. It has managed to climb higher and even tested the 23.6% Fibonacci retracement level, which is a key technical indicator used to measure the extent of a price correction. This retracement level is calculated based on the downward move from the asset's previous high of $1.341 to its recent low of $1.103. 

The first immediate resistance is located near the $1.185 level. However, the first major resistance is situated near the $1.200 level or the 50% Fib retracement level of the downward move from the $1.341 swing high to $1.103 low. If the price manages to break through this level, it could potentially test the $1.250 level. A clear and sustained move above the $1.250 level could signal a steady increase towards the $1.300 level. Further gains could potentially push the price towards the $1.350 level.

According to #technicalanalysis , EOS is currently facing a critical juncture. The digital currency must surpass the #resistance levels of $1.18 and $1.20 to avoid a potential decline. However, if it fails to do so, it may experience a further drop in value. On the downside, there is an immediate support level at $1.130. However, if EOS falls below this level, the next key support level is at $1.100. If the coin continues to decline and breaks below the $1.100 support level, it could potentially test the $1.000 support level in the near future.

KEY LEVELS :

RESISTANCE LEVEL : $1.20-$1.25

SUPPORT LEVEL : $1.12-$1.07

#coingabbar