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EOS gains by double digits ahead of the mainnet launch

Following a major freefall of EOS price in the cryptocurrency market, it seems buyers are taking control and using this opportunity to step in very low. For that reason, the coin’s price increased by double digits in the last 24 hours, reaching a level of $12.47, ahead of the mainnet launch.

The coin managed to maintain prices below the descending trend line, and recently it broke the key support level of $11 moving towards $10. However, the bulls are putting their best foot forward, thus this upside break of $10 could hold ahead of the mainnet launch. Additionally, John MacAfee gave positive predictions despite the current bearish markets.

In his latest tweet, John stated that many institutional investors are preparing to invest in the cryptocurrency market. Additionally, they are expected to pump millions in the market. Thus we should expect the top ten coins to blow through the roof, which will be followed by the rest.

Currently, the most trading by volume per exchange is held by Asian based exchanges. Bithumb is in the lead by 19%, followed by Up bit which trades at 15%. In spite of the double-digit increase, the coin is struggling to move above the $12.20 level which could take some time. However, since the cryptocurrency market, in general, is on an uptrend, the same will happen to EOS.

Eos price prediction

The platform enables developers to build decentralized applications, which are built in a public environment. Moreover, it enables scalability and supports thousands of different commercial decentralized applications. As such, the coin has continued to gain more traction. As more and more companies continue to utilize the platform, its value will increase significantly.

The forecast by the end 2018 is around $37. Similarly, a five-year forecast places the coin’s price at $143. Thus, the total quantum of appreciation to be attained is quite huge.

Do you think this bullish trend will maintain until after the mainnet launch?

Share your thoughts in the comment section below

coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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