EOS is a native coin of the EOS network that can be transfered from one smart contract address to another . In order for the transaction to be initiated to the second smart contract address, the first one must pay a transaction fee. This makes it to be considered to be a decentralized asset. The delegators running the EOS network are the who will be validating the transactions taking place on the EOS netowk as well as secure the EOS network. This makes it to be considered to be using a delegated proof of stake consensus. On the EOS network, different developers are able to build their Dapps over there. EOS also has a high liquidity thus making it to be well tradeable just like other cryptocurrencies like Bitcoin and etherem. Because of this EOS traders are able to trade it both in an upwards and downwards direction and be able to make some profit from it. We can therefore be able to analyze the weekly price for EOS on traders behaviour as follows;
Traders behaviour
EOS has a high liquidity due to its listing in several exchanges. It also has a high utility function since there are several dapps built on its network. This makes it to have huge number of traders trading it in both upwards and in downwards direction. Therefore, we can say that if market for EOS is moving in an upwards direction, that will signify that there is more number of sellers selling a given amount of EOS than those buying it. Because of this, the EOS market gains an upwards pressure where it moves with few buyers so that it profits with them and make those many sellers selling it to make some losses. On the other hand, if the EOS market is moving in a downwards direction, that will signify that the number of buyers buying it is more in numbers as compared to those selling it. Because of this, the EOS market gains a downward market pressure where it moves downwards with few sellers so that it can profit with them and makes many buyers buying it to make some losses. Therefore, since the EOS market has been moving in an upwards direction the whole of this week,we can therefore further analyze its weekly price analysis as follows
1. Bullish EOS price analysis based on traders behaviour
In a bullish market, the EOS will be moving in an upwards direction. Since the beginning of this week(2nd March 2020), the EOS has been moving in an upwards direction and managed to go as high as $3.84 on Thursday. This increase in price has been due to more number of sellers selling a given amount of EOS and few buyers buying a given amount of EOS with their USDT balance. Because of this, the EOS market gains an upward market pressure where it moves upward with few number of buyers so that it profits with them and makes those many number of sellers to make some losses. On Tuesday, Wednesday and Thursday, the EOS market managed to rise to $3.66 , $3.52 dropped and $3.84 rise respectively from a lower price of $3.52 on Monday as indicated earlier. Therefore, if you are an EOS trader and you are still holding your previously bought EOS, I think you can now sell it at current market price of $3.80 or you can wait and sell it when the market goes beyond $3.90 since the EOS market will start moving in a downwards market after that high rise. Here is a weekly EOS price analysis based on traders behaviour;
The above is the EOS market in terms of USDT. Two points are being indicated. There is point A and point B. Since the beginning of Monday this week, the EOS market has been moving in an upwards market direction. The market managed to rise to $366 on Tuesday from $3.55 on Monday but later dropped to $3.52 on Wednesday. The market again rises to $3.84 on Thursday.As indicated from the chart above, the increase in price has been due to more number of sellers selling a given amount of EOS and few number of buyers buying a given amount of EOS with their USDT balance. This makes the EOS market to gain an upward market pressure where it moves with few EOS buyers as indicated from the chart above all the way to $3.84. The number of buyers again exceeds the number of sellers thus causing the market to resist moving upwards and reverse downwards where it slightly moves with few number of sellers to point A at $3.71 where it slightly profits with them and shortly makes those many buyers make some losses. At point A, the number of sellers again exceeds the number of buyers thus causing the EOS market to gain an upwards market pressure again where it moves upward with few buyers all the way to point B at over $3.84. If the number if sellers will continue to be more than the number of buyers, then there is possibility of this upwards movement to continue until Monday next week. The market can go as high as $3.90 after which it will reverse and start moving downwards. As an EOS trader, you can either sell your previously bought EOS at current market price of around $3.80 or can wait until the market rises to $3.90 and sell so that you make more profit.
Summary
On Monday, March, the 2nd of 2020, the EOS price was trading at around $3.55. The market then started to rise all the way to $3.84. This increase in price has been due to more traders selling than those buying thus creating an upward market pressure where the market profit with buyers and makes many sellers make some loss. Therefore, we can say that when more buyers are buying than those selling EOS, the market will be moving downwards with those few sellers selling EOS so that it profits with them while when more sellers are selling than the number of buyers buying, then the market for EOS will be moving upwards with those few buyers so that it profits with them.
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