EOS (EOS) allows users to develop decentralized applications (dApps). Currently, the top four dApps with the most active users are built on EOS.
Tron (TRX)—a competitor of EOS—was leading the charts. Now only two of the top ten dApps are built using TRON while eight are deployed on EOS. As the dApp competition heats up, EOS’s new dominance may help its price reach new heights.

Key Highlights For Mar 6
- The price of EOS reached a high of $4.50 on Feb 24 before a market-wide flash crash brought the value to lows of around $3.20
- The price has made successive lower lows.
- EOS is possibly trading in a descending wedge.
- There is resistance near $4.05 and $4.40.
- There is support near $3.60 and $3.35.
Tracing The Support
The price of EOS on Binance was analyzed on 1-Hour intervals from Feb 24 to Mar 6.
Possible Resistance Line
Possible support and resistance

Recent Upward Move

Looking Out For A Reversal
The moving average convergence divergence (MACD) is a trend indicator that shows the relationship between two moving averages (long and short-term) and the price. It is used to measure the strength of a move. The relative strength index (RSI) is an indicator which calculates the size of the changes in price in order to determine oversold or overbought conditions in the market.
Final Analysis
Combining MACD and RSI bullish/bearish divergence with support/resistance essentially predicts price fluctuations. It is especially effective when there is a bearish divergence on a bearish pattern or resistance line and vice versa. If both indicators are in agreement, it can be used to further add validity to the divergence analysis. Given the above information, the price of EOS may drop to the resistance areas near $3.6 and eventually $3.35. Do you think the price of EOS will break out or will drop to the support areas outlined? Let us know your thoughts in the comments below, and be sure to check out our latest Bitcoin (BTC) Price Predictions! Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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