{"id":109454,"date":"2019-07-06T05:03:00","date_gmt":"2019-07-06T12:03:00","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=109454"},"modified":"2026-05-27T16:27:25","modified_gmt":"2026-05-27T15:27:25","slug":"eos-tezos-bittorrent-major-price-movement","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/eos-tezos-bittorrent-major-price-movement\/","title":{"rendered":"EOS, Tezos, and BitTorrent showing signs of a major price movement"},"content":{"rendered":"

After the recent 30 percent correction<\/a> that Bitcoin<\/a> experienced, some altcoins are showing signs of a possible breakout while others have indicators of further decline. This technical analysis will explore whether EOS<\/a>, Tezos<\/a> and BitTorrent<\/a> are preparing for an upswing or a nosedive.<\/p>\n

EOS<\/h2>\n

Following the high of $8.65 on May 31 EOS\u2019s market valuation pulled back over 35 percent, reaching $5.55 on June 27. Due to the significance of the correction, the Parabolic SAR, which is displayed as a series of dots on top and below the price of EOS and helps identify potential reversals points in the direction the price is moving, flipped on the 1-week chart signaling a change in the trend from bullish to bearish.<\/p>\n

The probabilities for the current downward momentum increase since EOS has also moved below the 7-week moving average so a further drop down to the 50 or 30-week moving average, which are both sitting around $4.60, could be expected.<\/p>\n

\"EOS\/USD
EOS\/USD chart by TradingView<\/a><\/figcaption><\/figure>\n

That being the case, EOS will have to break below the ascending parallel channel that developed since mid-December 2018 on the 3-day, which has the potential to accelerate the selling pressure if confirmed because of its longevity.<\/p>\n

However, if the parallel channel continues to hold, then this cryptocurrency could be about to rebound to the middle or the top of the channel..<\/p>\n

\"EOS\/USD
EOS\/USD chart by TradingView<\/a><\/figcaption><\/figure>\n

Now that EOS is trading around the 38.2 percent Fibonacci retracement level a move above $6.20 could signal that the ascending parallel channel on the 3-day chart will not break and this cryptocurrency could try to test the 23.6 percent Fibonacci retracement level.<\/p>\n

Conversely, a move below the recent low of $5.55 could validate what can be seen on the 1-week chart and EOS could be heading down to test the 50 or the 61.8 percent Fibonacci retracement zone.<\/p>\n

\"EOS\/USD
EOS\/USD chart by TradingView<\/a><\/figcaption><\/figure>\n

Tezos<\/h2>\n

After falling 24 percent last week, Tezos has managed to recover the value that it lost, which could have resulted from a deal<\/a> worth well over a billion dollars that the team behind it recently closed with BTG Pactual, one of the largest investment banks in South America, and Dalma Capital, a Dubai-based asset management firm.<\/p>\n

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[Press release]: BTG Pactual and Dalma Capital to utilize #Tezos<\/a> blockchain for Security Token Offerings (STOs): https:\/\/t.co\/4fgPBvEWj9<\/a><\/p>\n

— Tezos Foundation (@TezosFoundation) July 3, 2019<\/a><\/p><\/blockquote>\n