The EOS to USD trading pair has been stagnant for a while now. Neither the sellers or the buyers have made any significant move in the market. The price is maintaining the $10 support. Everyone in the community was hoping that being listed on Kraken and Bitfinex will give EOS a quick boost. Unfortunately, it didn't. The EOS and USD trading pair has been falling into a wedge pattern settling in an extended range some days ago. Since then, there has been no significant movement.
Kraken and Bitfinex Now Accept EOS Deposits and Withdrawals But the Price Remains Stagnant
Yesterday, Kraken took to Twitter to announce that EOS is now live on the platform. The post was as follows:
“All EOS deposits and withdrawals can be done on Kraken. The deposits are free with an expected minimum of 0.01 EOS.”
While this news was still fresh, Bitfinex announced on Twitter that users can now make EOS withdrawals and deposits on the platform. The post was as follows:
“Bitfinex has enabled EOS withdrawals and deposits.”
This is the kind of news that is expected to boost the price of a coin, at least temporarily. However, the news was not attached to any price reaction. The price neither went up or down after the news. Instead of making attempts to go up, the EOS to USD trading pair had minimal lower corrections. The declines were not prevented by the moving averages and all upward movement has been stopped at $10.5.
Price indicators show that selling pressure is on the way. EOS has found support in the $10.00 level according to the technical analysis of cryptocurrency writer, Ken Chigbo.
The charts don't show that the price will increase today. If anything, there might be a slight decline rather than an increase. When things happen like this, the community's faith in a coin reduces.
Posted from my blog with SteemPress : https://smartereum.com/20260/eos-price-analysis-the-eos-to-usd-trading-pair-remains-stagnant-even-after-eos-deposits-and-withdrawals-go-live-on-bitfinex-and-kraken/