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EOS Price Analysis: EOS/USD Trends of November 5-11, 2018

CoinSpeaker
EOS Price Analysis: EOS/USD Trends of November 5-11, 2018

Key Highlights:

  • EOS price may sink to the lows of $4.6;
  • consolidation is ongoing;
  • the support level of $5.2 may be broken.

EOS/USD Price Long-term Trend: Ranging

Resistance levels: $6.0, $6.6, $7.3
Support levels: $5.0, $4.6, $4.0EOS price is still ranging on the daily chart. The coin started sideways movement within the price range of $6.0 resistance level and $5.0 support level since September 24. It made an attempt to break out the support level of $5.0 with the formation of a strong bearish candle that indicate the pressure from the bears, the bulls return the EOS price into the bound range.

On October 15, the bulls also pushed the EOS price up to a resistance level of $6.6 before the bears rejected the uptrend movement. As long as the EOS price remains within the price range of $6.0 and $5.0 sideways movement continues until the bears or bulls gain enough momentum for the coin to rally.

EOS price will sink to the lows of $4.6 if the bears break down the support level of $5.2. On the upside, a bullish rally will ensure that the resistance level at $6.0 is broken, then, the price will rally to the $6.6 price level which is the upper resistance level of price.

It is illogical to place a trade when EOS price is still consolidating. Moreover, the Stochastic Oscillator period 14 is above 50 levels with the signal lines point to the north which indicates EOS price moving towards the north.

EOS/USD Price Medium-term Trend: Bullish

On the medium-term trend, EOS price is bullish. The cryptocurrency has broken the two exponential moving averages (EMAs) upside which acts as dynamic support and resistance. The EOS price is presently above the 21-day EMA and 50-day EMA with 21-day EMA crossed the 50-day EMA upside indicating that the price is in the uptrend movement and the bulls are in control of the market.

The bulls have gained enough pressure that is pushing EOS price up to the north and it can break the resistance level of $6.0. Before the coin can reach and break the support level of $5.2 the bears have to reject the present uptrend movement and increase their momentum. Nevertheless, the Stochastic Oscillator period 14 is above 60 levels with its signal lines pointing downward, which indicates the sell signal.

EOS Price Analysis: EOS/USD Trends of November 5-11, 2018

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EOS/USD Price Analysis: Trends of October 1–7, 2018

Key Highlights:

  • Formation of “Ascending triangle” pattern confirmed on the daily and 4H chart;
  • the price might go up this week;
  • traders should take a position with discipline.

EOS/USD Long-term Trend: Bullish

Resistance levels: $6.8, $9.4, $11.4
Support levels: $4.1, $2.0, $0.5The cryptocurrency has been trading within the range bound of resistance level of $6.8 and support level of $4.1 since August 18. Last week it formed “Ascending triangle” pattern on the daily chart within the channel when the strong bearish pressure was lost after a drop in the price towards the support level of $4.1 and the price closed higher. More pressure from the buyer pushed the price up and broke the dynamic resistance of 50- EMA. The price has kept increasing gradually on the daily charts. Last week was bullish. There is a possibility that price might go up this week in case of the price break out at the upper trend lines of the ascending triangle formed.

On the daily chart, the Stochastic Oscillator Period 14 is above the level 50, with its signal lines pointing towards north, which indicates there could be a bullish movement this week towards the resistance level of $6.8 immediately it breaks out from the ascending triangle. Nonetheless, there may be a downward movement towards the support level of $4.1 in case the bears increase their momentum.

EOS/USD Price Medium-term Trend: Bullish

EOS/USD is bullish on the medium-term outlook, due to the ascending triangle formed within the channel last week. The price has been moving upward with the formation of more bullish candles. As of this week, the price may move higher by break out at the upper trend line of the ascending triangle.

The 10-day EMA has crossed the 50-day EMA upward with the price above the 10-day EMA, confirming the uptrend. Should EOS price go up to the resistance level at $6.8 and produce a bullish pattern, then further upward movement could be anticipated. Traders are advised to be disciplined before taking a position.

The post EOS/USD Price Analysis: Trends of October 1–7, 2018 appeared first on CoinSpeaker.

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EOS Account Schema: Speculation or Promising the New Way?

EOS has only recently entered the cryptocurrency market but has already made a name for itself. It’s ICO campaign raised over $1 billion making it one of the most successful ICO’s of all time. Some people even call EOS an “Ethereum Killer” due to their similarity but EOS’s superiority in number of transactions per second. 

To be precise, EOS is able to conduct around 1000 thousands transactions per second vs 15 transactions on Ethereum blockchain and only 7 on Bitcoin. Such a low channel capacity causes higher transaction fees and forces users to postpone their transactions. EOS solved this problem to some extent and is able to scale up with ease.

However, as many other creations of human kind, EOS is imperfect. Many see this imperfection to come from a high barrier of entry into EOS community in a form of paid account creation and complicated procedures. Especially when account prices have been rising. So why should you pay for a new EOS account?

To answer this question, we first need to look at how other cryptocurrencies operate. When you use Bitcoin and Ethereum you pay a fee for operational power of a transaction. It is easy to see how it works on Ethereum blockchain where the cost of transaction is expressed in a form of gas price. 

EOS took a different approach, wherein when creating an account you have to buy out some of the operational power, granting you ownership of the network. To be precise, you are paying for CPU power, Bandwidth and most notably RAM space. RAM stands out as it is the priciest out of those three and we should see why a bit latter. 

For now let’s justify EOS’s approach. First off all, receiving ownership of the tokens not only allows account holders to access the blockchain and its features but also control it to some extend with the voting system imbedded in EOS functionality. You can see how this becomes an opportunity to establish a long term, trusting relationship with developers, users and investors. 

Another way to think about this is using many real-world examples where we prefer to own rather than rent. Most notable of those is house. You feel more secure if you own it. As well as that, in long term it’s cheaper to own. By paying once for the account you get out of regular payments. This is especially useful for those who are looking to use EOS on regular basis. It is also important to mention that unlike transaction fees, you will be able to return you investment. At any time, there is an option to sell back your computational power at the current market price.  

That all sounds great, but what about the problems with account creation? Since EOS’s ICO has ended it became much harder to enter the EOS community. Initially you could only do so via an invitation from an already existing member. However, recently, there appeared a simple Dapp “singupeoseos”, which creates an account for you without any additional fees for provided service. More similar methods will be popping up in the future to ease this process, so it shouldn’t be a problem.

The more significant issues is an increase in price for account creation. As I mentioned earlier RAM plays an important part in this issue. Minimum amount of RAM required to set up an account is 4KB. Due to increase in popularity of EOS, many new accounts are being created and so demand for RAM is rising. However, available RAM is limited and it is hard to increase it fast.

Therefore, supply is not rising at a same rate. Whoever is familiar with basics of microeconomics would know what I am leading to. Such a market behavior leads to an increase in price. This is exactly what we are observing: a stable increase in account price due to issues with RAM availability. 

We hope this issue won’t last for long. What’s great about EOS is its tight community and responsive developers. This issue has already been addressed and there are few ways in which it will be solved in the near future. 

More than 60% of bought out RAM is actually unused. EOS is looking to decrease the amount of compulsory RAM per account to 1.5KB and make it easier to buy additional when required. Even then, if there is any spare RAM space left on your account, you will be able to rent it out in return for EOS tokens.

To find out more about EOS account schema, it’s problems and potential solutions, you can follow Dan Larimer’s Medium blog.

It is safe to say that EOS’s account schema is a unique and promising approach. Even with all its drawbacks it does not concede to other approaches. Furthermore, this schema has a potential to become superior, if developers manage to solve the problems with accessibility and RAM price. With a team of such a responsive and creative developers EOS has a bright future and we shall follow them closely on their path to success.

The post EOS Account Schema: Speculation or Promising the New Way? appeared first on CoinSpeaker.

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A Startup is developing software to control devices with your mind

No matter which sci-fi story we choose, let it be the galactic adventures of Star Trek or the dark side of Darth Vader in Star Wars, all of them include something humanity has always been dreaming of – controlling things with our mere thoughts. Nowadays with mind-controlled drones races and prosthetics limbs with fingers bending at your will, this future is closer than it has ever been.

Although most of this technology is still in relatively early stages, some entrepreneurs like the team behind the startup company Neurogress have big plans to bring it to the masses. Additionally, the Swiss company wants to take matters to another level and combine the science of mind-controlled devices with another huge trend in the digital world, the Blockchain technology.

Big plans for a big future

Neurogress’s project is nothing short of ambitious. The company is planning to develop artificial intelligence (AI) based software for mind (or neural) led tools to maximize their full potential. The company’s short term vision is to create software that will allow people to control different types of devices with their thoughts. They want the software to be able to recognize brain commands via a neurointerface contained in a non-invasive headband that is worn (nothing needs to be implanted). The software will be able to translate these brain commands into actions. For example, a prosthetic arm can grab and lift a cup of coffee for you to enjoy simply by thinking it.

The programme is designed to be able to use existing statistics from a common database to help users to quickly adapt their devices and use them more efficiently. Initially, the APIs of the software will only be open for developers, but if enough funding is obtained Neurogress plans to make it open source.

Blockchain will come into the picture in the developmental stage, however initial plans are that the company will base their system and platform on Ethereum smart contracts. It is also planned implement the project into the Smart Environment, controlling devices around you with your mind with a help of a single neurointerface. Neurogress is yet to decide which platform will be ideal for its long term needs, be it Ethereum, IOTA, EOS, another emerging technology or a native Blockchain cryptocurrency – this will be decided when the project reaches its development stage.

Mining with your mind

Initial funding is collected through a TGE (Token Generation Event). The pre-TGE starts on February 10 2018 where Neurogress will issue Neurogress tokens (NRG) to people interested in the project to purchase. These tokens are the native currency for the platform. Users will be able to purchase software or devices on the Neurogress marketplace, pay for developers to create codes, train machine learning algorithms for rewards, design and improve applications and other transactions on the Neugrogress platform.

The machine learning process constantly develops the advanced algorithms, which accelerates the neurocontrol mastering. This decentralized approach allows developers to use Neurogress algorithms for running their systems as well as for providing data sets to train AI.

Once sufficient funding is obtained, the company plans to introduce its own cryptocurrency – the target is within a year of the project’s start. People will be able to mine with the use of “Proof of Neural Activity” concept where the mining algorithm processes a user’s brain activity.

However, it’s important to highlight citizens and residents of the USA, Singapore and Switzerland are not able to purchase any NRG tokens due to various taxation and regulatory barriers in these countries. Investors should also understand tokens purchases are final, and even if the project’s outcome won’t be as they expected there are no refunds.

Thinking fast

The potential of mind-controlled devices are vast, and perhaps creativity will be the only limit. While the current state of the mind-controlled devices is still very expensive, and training periods for users can take up more than a year, companies like Neurogress are the drivers of this market potentially worth billions of dollars in the future.

Neurogress envisions it will be able to apply its software to a wide range of tools (not only drones or prosthetics). The company’s plan is to implement its product via collaborations with other manufacturers into industries such as medicine, robotics, gaming, transportation and perhaps even construct a mind-controlled giant crane.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.