Is It Too Late to Buy EOS? EOS Price Rallies 5% with $100 Million Trading Volume and Crypto Startup LPX Secures $1.5 Million – Time to Buy?
Top 100 ranked blockchain Eos (EOS) has pumped +5% in the aftermath of news that the digital asset has been approved for trading by Japan’s Virtual and Crypto Asset Exchange Association (JVCEA), with markets going live in mid-September.
The bullish announcement ignited a frenzy of activity, breathing much needed life into EOS which has been in consolidation for two-weeks.
With white-list approval in Japan, regulator-approved BitTrade will be responsible for launching EOS trading – in a highly anticipated move by Japanese markets.
EOS Price Analysis: Is it Too Late to Buy EOS?
With price action now undertaking retracement following the sudden upshot move, EOS is trading at a current market price of $0.61 (representing a 24-hour change of -1.91%).
The recent push-up comes following 13-days of consolidation above $0.575 in the aftermath of a new all-time low for EOS at $0.51 on August 9.
Much to the relief of anxious bag-holders, the upside swing saw EOS reclaim support from the 20DMA in a significant development for technical structure.
Highlighting the significance of this move, the 20DMA has suppressed upside price action for 38-days since July 24.
Despite the gains, EOS’s RSI remains cool and level, maintaining a bullish oversold signal at 42.44 – suggesting that there is still capacity to push up higher in an attempt to flip $0.65 to support.
The MACD also maintains bullish divergence at 0.0007 – reflecting the improved technical structure.
Overall, with price action strengthening in form, a brief consolidation here could establish the footing to push higher in the trading channel.
This would leave EOS facing an upside target at $0.65 (a possible +5.6%).
While downside risk remains significant here, with a fall down to $0.575 (a potential -6.5%) likely in the event of rejection from the 20DMA.
EOS therefore carries a risk: reward ratio of 0.88 – an entry dominated by downside risk on the short-time frame.
However, with EOS trading tipped to begin in Japan in Mid-September, it is certainly not too late for traders to take position for a mid-time frame play.
But while EOS bag-holders are bracing for a two-week wait, smart money have already started seeking out the next moon-shot opportunity using an innovative AI insights platform.
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The platform’s intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.
Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates substantial user adoption.
With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.
Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.
As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you’re new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can’t afford to overlook in 2023.
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For more information, visit Launchpad XYZ today, also stay tuned with the project Twitter and Telegram to receive all of the latest updates and team news.
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.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.