EOS Price Analysis 7/31/2017

With the price of Bitcoin rallying today we have seen sell-off across most altcoins. EOS was not spared the past few days. Smart investors are putting their money back into BTC in the hopes of receiving some of this "Free Bitcoin Cash" that will be created. Stubborn, ignorant, or naïve investors will simply do what they do which could put the brakes on the altcoin market's decline. EOS is looking good however on the long-term charts and long term investors should consider this token at this price range.

As you can see the Fibonacci Retracement (ranging from $0.51-$4.78) shows that we have settled just below the golden ratio of 0.618 and we are bouncing around between $1.50 and $2.00 almost weekly now. The Bollinger Bands show that the volume is tightening up suggesting multiple things. This could be considered an entry point as the price may only dip another 10-20 cents at most in the short term. We could see another rally immediately after Bitcoin forks as money floods back into the altcoin markets. I would consider buying around $1.65 if holding long term as the potential for this token is massive.

Here is a 7-day chart:

I would expect to see a slight sell off across the markets again as Bitcoin sucks them dry like a vampire! EOS will most likely see a drop before it picks back up tomorrow or the next day. Tonight might be a good time to enter the EOS market for someone who was unsure of the price. They are only releasing 2 million tokens per day (through crowd sales) and have already released over 25% of the total supply onto the market. So it is a slow, controlled, wide distribution of the tokens rather than a free-for-all where whales snatch up all of the ICO's limited supply.

TLDR Version:
EOS has a bright future and we should see it become a very prosperous token once the blockchain is launched. By next week I would expect the price to around the $2.00 mark again after the whole Bitcoin fork has resolved somewhat.

Price Target (by next week):
$2.15