Home Crypto Crypto Market Analysis Daily update: Ethereum and EOS catapulted, Bitcoin crawling up

Daily update: Ethereum and EOS catapulted, Bitcoin crawling up

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Daily update: Ethereum and EOS catapulted, Bitcoin crawling up

Bitcoin

  • Fundamental analysis: As with most days, today is no different. Fundamentals of Bitcoin have not changed. There are some rumors and articles changing the sentiment to a bit more bullish, but overall, everything stays the same.
  • Technical analysis: Bitcoin has broken the first of many resistance lines which was at the price of $6385. However, it quickly found resistance near the $6520 level, and then started consolidating. It is still uncertain of where Bitcoin will end up.

Ethereum

  • Fundamental analysis: After many articles stating that Ethereum is done as a Cryptocurrency, opinions started to change. Counterarguments towards defending Ethereum brought a dash of bullish sentiment into the game, which skyrocketed Ethereum.
  • Technical analysis: Ethereum has broken the downwards facing trend line, and skyrocketed up without ever retesting it. This sudden spike might be unhealthy and could cause major pullbacks in this unstable and overall bearish market. However, this spike surely showed that Ethereum is far from dead.

EOS

  • Fundamental analysis: EOS has been performing extremely well ever since its conception. However, the sudden spike up was due to EOS becoming a quote currency on HitBTC.
  • Technical analysis: With the price spike, EOS has just broken its consolidation zone and settled between the previous resistance (now support) line and the $5.67 resistance line.

 

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