Cryptocurrency Analysis and Forecast for 3 September 2019: EOS, TRX, and ETH

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Cardano (ADA), Ethereum (ETH), and EOS Price Analysis and Forecast
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EOSUSD

Cryptocurrency Analysis and Forecast for 3 September 2019: EOS, TRX, and ETH
EOSUSD Chart By TradingView

On an hourly chart, EOS/USD pair has performed positively. The pair’s price recorded an upsurge of about 2.08% over the last 24hrs. The recovery has given investors a positive sign; thus, a break above the $3.3560 price level is anticipated that might trigger to an upward rally near $3.4000.

The formation of a strong upward trend line confirmed the bullish mode. Afterward, the market opened the intraday trading at $3.2811 that later on climbed upside to a high of $3.4115 before facing a medium-term period of consolidation between $3.3271 and $3.3554 respectively. The sideways move then defined the current price of EOS at $3.3508.

All the technical indicators reflected the uptrend since the short- term SMA hovered above the long-term SMA over the last 24hrs. The RSI indicator was also seen above level 50 that confirmed the stability of the bullish momentum.

Forecast

The market is currently correcting gains. However, a continuation of an upsurge is likely since both moving averages are now acting as the price support and they seemed to be ascending. The RSI indicator is also heading north that shows a bullish outlook. Conversely, a downward break below the $3.3271 may turn the trend to drop near $3.2500.

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Tron (TRX/USD)

Cryptocurrency Analysis and Forecast for 3 September 2019: EOS, TRX, and ETH
TRXUSD Chart By TradingView

TRX/USD pair has also overcome the bearish pressure. The pair’s price opened the session with a big jump that escalated the price from $0.0157 to a high of $0.0163. This showed a struggle to climb above $0.0161 resistance level, but the bull’s strength was not strong enough.

However, the upsurge has changed investor’s sentiments to positive expectations. The pair price later moved on a sideways momentum where it’s now changing hands at $0.0160. The upside mode signaled the moving averages that gave a bullish outlook and the RSI indicator that is now heading to the overbought territory, which shows a positive sign.

Forecast

The market is likely to foresee a continuity of a bullish performance. That is if the bulls strengthen their strategy and breach the price above $0.0162. If that happens then, investors can take a long position and set targets near $0.0164 and $0.0165.

Ethereum (ETH/USD)

Cryptocurrency Analysis and Forecast for 3 September 2019: EOS, TRX, and ETH
ETHUSD Chart By TradingView

ETH/USD pair has recovered by 3.08% over the last 24hrs. The trend also seemed to have motivated many investors with hopes of much better digits in the near term. ETH opened with an upward rally that later took a break below $177.57.

The price, however, failed to climb above the $180.28 resistance level but if the bulls up their game, a break above $185.28 may be fruitful soon. The RSI indicator moved from the overbought region to trade at level 60 this showed a reduction in buyouts. Nevertheless, since it’s still above 50 levels, bullish momentum is stable.

Forecast

At the press time, the moving averages have shifted from the bullish sign to a bearish sign. This shows that a downside decline is possible. If the price fails to maintain its position above the $178 level and drop below it, then a new support level could be found near $172.00 and 171.00.


Disclaimer: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ZyCrypto. None of the information you read on ZyCrypto.com should be regarded as investment advice. Every investment and trading move involves risk, you should always conduct your own research before making any investment decision.

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