EOS Breaks the $4 Barrier and Outperforms Bitcoin (EOS/USD Monthly Price Analysis: March 2019)

The price of EOS during the month of March increased by around 18.25%. Ethereum performed better than BTC—whose price increased approximately 8% in the same period—but worse than Stellar lumens, which saw gains of approximately 25%. In the rest of the article, we analyze the monthly trading structure of EOS. To do this, we examine the most important moves that occurred in March.

EOS (EOS): Trends and Highlights For March 2019

• The price of EOS/USD has been on a gradual uptrend since Mar 5.
• EOS reached a high on Mar 7 and a gradual downtrend began.
• EOS broke out from a symmetrical triangle on Mar 15.
• A gradual downtrend ensued.
• EOS broke out from another symmetrical triangle on Mar 26.
• EOS/USD reached a high of $4.54 on Mar 29.

Important Movements

The price of EOS on Binance was analyzed at one-day intervals from Mar 1 to Mar 31. EOS experienced three important movements in March:

• Mar 4 – Mar 7: EOS almost reaches $4.
• Mar 8- Mar 25: Long and gradual downtrend.
• Mar 26 – Mar 29: EOS breaks out above $4.

These three movements are highlighted in the graph below: In the following sections, we analyze these movements in greater depth.

Mar 4 – 7: Flash Crash And Reversal

On Mar 4, EOS reached a daily high of $3.61. A low of $3.19 followed on the same day. However, a reversal immediately began. The price reached a high of $3.98 on Mar 7. We successfully predicted this movement in our Mar 6 analysis

Mar 8 – 25: Gradual Decrease

After the Mar 7 high, the price began a gradual increase. On Mar 8, it reached a low of $3.5 and revisited the same level on Mar 11. From Mar 10 to Mar 15 it was trading inside a symmetrical triangle: It broke out of the triangle on Mar 15 before making a high near $4 the following day. We successfully predicted this breakout in our Mar 16 price analysis. After the high of Mar 16, EOS began a long, slow downtrend.

Mar 26 – 29: EOS Moves Above $4

From Mar 22 to Mar 26 the price was trading inside a symmetrical triangle: A breakout occurred on Mar 26, and on Mar 29, the price reached a high of $4.54. A slow decrease followed, and the price closed the month of March at $4.25 We successfully predicted the breakout from the triangle in our Mar 26 analysis.

Summary of Analysis

In the month of March, the price of EOS enjoyed gradual increases, which intensified towards the end of the month. Do you think the price of EOS will keep increasing in April?  Let us know your thoughts in the comments below! 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.