The EOS crypto marks a price jump today
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The EOS crypto marks a price jump today

By Federico Izzi - 25 Jul 2019

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Today the EOS crypto marks a price jump, scoring one of the best increases of the day. With a 10% rise in the last 24 hours, the price of EOS today shows a countertrend reaction to the general context, with a +40% increase from the lows of last week on July 16th. 

EOS chart by Tradingview

The price of EOS is now at 4.5 dollars, a very important wall to overcome. This is a level of support that until last July 11th had rejected three bearish attacks since April. For EOS today it is necessary to go beyond this level with determination and accompanied by volumes.

Source: COIN360.com

The four bearish days, the longest period since last December, where the bear seemed to have regained the reins of the market, come to an end today. The bulls are reacting with interesting intensity.

Scrolling through the standings, the first red mark can be seen at the 25th position occupied by Crypto.com Chain (CRO), which fell by 8%, one of the worst falls of the day. 

Things are worse for Clipper Coin (CCCX) and U Network (UUU), two tokens at the bottom of the ranking (95th and 90th positions), which experience double-digit declines of more than 10%. These are the three worst of the day. 

Besides EOS, also bitcoin is characterised by a price jump, with a +3.5%, which brings it back above the psychological threshold of 10,000. Even Ethereum, with a 7% jump, recovers the 220 dollars.

Japan Content Token (JCT) returns to the forefront, characterised by very high volatility with a daily rise of 11%. The best of the day is GXChain (GXC) in 60th position with 100 million dollars of capitalisation, up 20% from yesterday’s levels. 

Total capitalisation is back close to 280 billion dollars, levels still far from the highs recorded at the end of June, 100 billion dollars distant. 

The generalised rise in the last 24 hours pushes the dominance of the bitcoin just below the threshold of 65%. Ethereum’s market share also benefits from the increase, rising to 8.5%, moving away from the 8.2% of the last few days. Ripple is also trying to consolidate above 4.9% market share.

Bitcoin chart by Tradingview

Bitcoin (BTC)

Bitcoin with the last week’s movement is testing for the second time the dynamic trendline that supports the long-term bullish trend of last April. 

In the short to medium term, the trend continues to be in the hands of bears with lower highs and lows since last June.

July is proving to be a difficult and quite volatile month. Volatility per bitcoin remains above the historical average of 5%, and precisely just over 6%.

Technically it is necessary for bitcoin to recover $10,800 to begin to evaluate a first return of purchases. The bullish structure would be compromised again with price sinkings below $9,300 in the next few hours and days.

Ethereum chart by Tradingview

Ethereum (ETH)

For Ethereum to have regained the 220 dollars is a first step to try to attack the 230-235 dollars area in the coming hours and days. 

It has now become an important level of resistance, former support that had led to the bullish jump that at the end of June had recorded the highs of 2019.

For Ethereum it is necessary to break the 235 dollars with volumes. Otherwise, the setting remains bearish. 

Today it is necessary to monitor the stability of the supports and the minimums recorded yesterday in the $205 area and the minimums of last week in the $190 area. 

If in the next few days confirmation of the stability of these two levels of support arrives, it will be possible to decree the end of the bi-monthly cycle started from the minimums of the beginning of June and to begin the new bi-monthly cycle that will accompany us for the rest of the summer. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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