There are still some questions as to whether or not the bullish momentum affecting different cryptocurrencies will last. For now, it seems no real problems have been detected as of yet, although some hourly charts are not looking too promising. Despite the pressure, the EOS price is still going strong, albeit a push to $4 may be a bit too much to handle right now.
EOS Price Momentum Remains Intact
In the cryptocurrency world, there is always a chance things will turn around when people least expect it. Although it seems Bitcoin will not dip in the red today either, that sentiment will always remain subject to change. As long as Bitcoin remains bullish, all of the other markets will follow a very similar pattern. EOS is currently benefiting tremendously from Bitcoin’s surge, even though it too gains on BTC in its own way.
Over the past 24 hours, there has been a hefty 13.4% increase as far as the EOS price is concerned. Additionally, there is a near 10% gain in EOS/BTC< which is perhaps the most interesting aspect as of right now. Combined with $2.46bn in trading volume, it appears EOS is doing a lot of things right, primarily because its trading volume continues to increase accordingly.
On the social media platforms, there are some very interesting EOS-related discussions taking place. First of all, it appears some users are annoyed with Pokerking.one putting commercial messages on the EOS blockchain. While doing so is perfectly fine, one has to wonder how much blockchain spam will be created in the process. Not overdoing it is always the best course of action.
— iRandom (@JuergenKluge) March 6, 2019
In more positive news, the Unlimited Tower SRPG game will be making its way to alpha testing very soon. Although the details for participation have yet to be announced, it will be a full-fledged game powered by the EOS blockchain. Developments like these can have a significant impact on the project as a whole, assuming the game is worth its salt, of course.
We will begin our Initial #Alpha Test of @UnlimitedTower in March! Very soon, we will announce the details regarding application for participation, so stay close everyone! ⚔️ #UTG #NFT #Game #EOS #Blockchain pic.twitter.com/DkZgasUW1z
— Unlimited Tower ⚔️ (@UnlimitedTower) March 6, 2019
For those crypto traders simply chasing profits, it would appear there are a few interesting arbitrage opportunities worth looking into. More specifically, the potential profits range from 1.79% to 2.5%, which is more than acceptable for altcoin and token trading these days. It does involve using some of the lesser-known exchanges, however, thus trading liquidity can prove to be somewhat problematic at times.
All things considered, it would appear the EOS price should maintain the current level of $3.75 throughout the day. A further push is not entirely out of the question either, albeit there seems to be insufficient momentum to push the value to $4 in quick succession. That is not necessarily a bad thing, as a gain of over 13% should not be overlooked by any means.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.