• EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar.
• The bears were active near the $1.15 resistance and there was a break below a key rising channel with support near $1.10 on the 4-hours chart of the EOS/USD pair.
• If there is a downside break below the $0.965 support, the price could test the $0.920 support in the near term, while any more gains might send the price towards the $1.30 level.
EOS Price Analysis
EOS price started a fresh decline from the $1.15 resistance zone against the US Dollar after failing to clear 50% Fib retracement level of downward move from swing high to low points. There was a break below a key rising channel with support near $1.10 on 4-hours chart of EOS/USD pair, indicating further bearish pressure in coming days and weeks ahead.
An immediate support for EOS/USD pair is near the $1 mark and if there is downside break below that then next major support can be seen at around 0.965 level which will extend losses further in short term trading session as well as long term trend outlook for this crypto asset remains bearish for now due to current market conditions and investors sentiment towards it being negative overall so far since start of year 2023 till today’s date 16th March 2021 .
On upside, an immediate resistance is around 1.12 mark which needs to be breached for bulls to regain control and push prices higher again in short term trading sessions along with longer term trends outlook becoming positive again but such potential growth will depend upon how Bitcoin performs in coming days ahead too as both these cryptos have strong correlation between each other’s movements historically speaking .
Technical indicators like MACD and RSI are both showing bearish signals at this moment with RSI being below 50 levels which indicates that current momentum favors bears more than bulls right now but if situation changes anytime soon then traders should keep eyes open for potential buy entry points too along with cautiousness when it comes to stop loss levels set up accordingly according their own risk appetite .
To conclude, EOS price has been struggling below 1 dollar 15 cents mark against US Dollar since last few days and looks unlikely that any upside potential exists above this point unless we see some bullish reversal patterns emerge on charts soon . Therefore investors should remain vigilant about their positions held by them currently or plan any new investments carefully taking into account all factors related before jumping into conclusions based only on technical analysis data available out there .
• President Biden and his associates have been accused of trying to ban crypto through an Obama-era initiative known as Operation Choke Point 2.0.
• This plan is designed to cut off any „undesirable“ industries from banking services, including crypto which is presently unregulated by the federal government.
• Nic Carter and Marcus Sotiriou believe that such a decision would be detrimental to the United States as it would prevent the nation from getting ahead technology-wise and give other countries a competitive advantage.
Biden’s Plan to Ban Crypto
President Biden and his associates have been accused of secretly trying to ban crypto through an Obama-era initiative known as Operation Choke Point 2.0. This plan was designed to cut off any „undesirable“ industries from banking services, including crypto which is currently unregulated by the federal government.
Biden’s Hypocrisy Surrounding BTC
Biden has been a complete hypocrite when it comes to cryptocurrency from day one. He and his constituents collected money from men like Sam Bankman-Fried and garnered quick ties to fraudulent companies like FTX but later swore off imposing tight regulations on cryptos when the firm collapsed without offering to pay back funds that were likely stolen from people.
The Fed’s Actions Regarding Crypto Banks
Nic Carter – a partner at Castle Island Ventures – believes that the recent attempts by the US government to ringfence the crypto industry and cut off its connectivity with the banking system are reminiscent of this little-known, Obama-era program. The Federal Reserve has recently prevented Custodia – a crypto bank – from having access at its table, leading many people doubt if Protego or Paxos will be given permission either.
Consequences of Banning Cryptocurrency
Marcus Sotiriou – a market analyst at digital asset broker Global Block – said that such a decision would be detrimental to America as it would prevent them from advancing technologically while giving other countries (including enemies) competitive advantages in blockchain technology revolution.
It is clear that President Biden and his associates are attempting some nefarious ways in order to implement their agenda against cryptocurrencies despite collecting donations from those involved in cryptos previously; however, doing so could lead us down a dangerous path for our country’s technological advancement compared with others around us who are investing heavily into blockchain technology research and development due to less regulation surrounding their efforts than ours here in America
•Bitcoin (BTC) is currently falling and might recur at $23.5K.
•The crypto asset has returned to the previous range-bound area between $23,500 and $24,200.
•Bitcoin’s market capitalization has once more surpassed that of the world’s largest payment processor, VISA.
Bitcoin Price Prediction for Today
Bitcoin (BTC) is currently falling as it might recur at $23.5K. If the largest cryptocurrency asset retraces and maintains above the 21-day line SMA, it will try to move upward. However, selling pressure might return if the BTC price retraces past the 21-day line.
Bitcoin Price Statistics
Data:•Bitcoin price now – $23,850.31•Bitcoin market cap – $460,340,776,119•Bitcoin circulating supply – 19,300,450 BTC•Bitcoin total supply – $500,873,319,620•Bitcoin Coinmarketcap ranking – # 1Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25