Price Action
| 24 hours | -11.90 | $-0.35 |
| 7 days | -20.31 | $-0.66 |
| 1 month | -51.95 | $-2.8 |
Promoted
We are excited to host the Ethfinex Meet-up NO.5 in London on December 4th, and are lucky have the CEO and CTO of & travelling down to join us.
If you’re in the area make sure to stop by, grab a free drink and meet the team!
— Ethfinex (@ethfinex)
Trend
Trend is "down" when the weekly price movement is predominantly downwards.
Chart
Remarks
Descent from Opening Price
Today’s low of $2.52 is a 2018 yearly low for $EOS. There is no Binance historical data for this price range. CoinMarketCap prints an $EOS new listing high of about $4.56 on July 02 2017. This soon fell off to $2.89 on July 05 2017. Seeking a comparable price we next see $EOS descend to $1.61, plateau for some weeks and then bottom out at forty-eight cents on October 03 2017.
The Ascent to $7.51
CoinMarketCap pegs the $EOS ascent price on a dip at $1.77 on November 24 2017. On the next ascent dip on November 30 2017 the $EOS price prints $2.61.
If we can rely on these historical precedents – which more than a year later is a very big if – then we can guesstimate the next low at $2.61, which is about where the price is now. If history is any indicator, the price will form key support at or near this price.
Should bitcoin and market dynamics find price acceptance at lower levels, then historically we have only the lows at $1.61 and then $0.48 cents to rely on – as far as recorded prices go.
Technicals
Moving Average Convergence Divergence (MACD)
The MACD on the four hour chart is bearish.
Exponential Moving Averages (EMA)
| 7 day | $2.7591 |
| 25 day | $2.9053 |
| 99 day | $3.4873 |
Twelve hours ago (on the four hour chart) the short term EMA crossed the medium term EMA and was heading up. The three sessions since then saw the EMA turn slightly back down. This is a bearish indicator.
Relative Strength Index (RSI)
The Relative Strength Index on the one hour chart is 18.0. This is an oversold state.
bitcoin Price Modifier
The 24 hour bitcoin change is -6.59%. This may exert a bearish influence on EOS today.
24 Hour EOS $EOS Price Outlook
the twenty-four hour EOS $EOS price outlook is bearish
if the price finds acceptance at higher levels then key resistance is historically found at $2.89
if the price finds acceptance at lower levels then key support is historically found at $2.61
The author does not hold EOS $EOS at the time of writing.
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From Stockholm to New York, major global hubs are ditching cash for cards. As contactless payment devices including smartphones and smartwatches proliferate, hard currency is falling out of favor. But for all the convenience that touch payments bring, the cashless transition has major ramifications for the most underserved segments of society.
Also read:
Cash Is No Longer King
On June 1, 2018, shoppers across the U.K. that their Visa cards had inexplicably stopped working. Queues formed at supermarket checkouts and IOUs were written at gas stations as motorists realized the plastic in their pocket was no longer good. The outage lasted for several hours and caused major disruption, exacerbated by the fact that, as with many western countries, most Brits no longer carry significant amounts of cash. In an era where any purchase, from a cup of coffee to a car, can be purchased with a swipe of an NFC device or by pressing four buttons on a chip and PIN device, cash is no longer in vogue.
Try to pay in cash at an upmarket boutique or chic brasserie these days and the assistant is likely to glance askance at the wad of notes proffered. Nowhere is this trend more prevalent than in New York, where cash-free establishments are commonplace. Not everyone is enamored with the “cashless revolution” taking place, however. Critics warn it risks creating an underclass of second-rate citizens, excluded by elitist monetary policy. One lawmaker is particularly alarmed by the trend, and his concerns have nothing to do with the risk posed by Visa’s servers shutting down. New York City council member Ritchie J. Torres is seeking to introduce banning cash-free stores on the grounds that they promote racism and elitism.
Credit Cards and the Menace of a Cashless Society
Ostensibly, cashless businesses are all about convenience: the convenience of not having to wait in line while the person in front of you fumbles for the right change, and the convenience for business owners of not having to take the day’s earnings to the bank or worry about being robbed. Even if the intentions behind the cashless movement are honorable, a side effect is to disenfranchise those who are already marginalized and unable to access the credit or high-tech consumer devices necessary to participate. Critics fear that gentrification through cash exclusion will ultimately sweep entire neighborhoods, driving out the poor, minorities and people with bad credit.
“Paper money is a universal currency. We all use it at some point in our lives, and delegitimizing paper money with a card-only policy should be unlawful,” Torres. Another danger of sleepwalking into a world in which cash is passé is censoring transactions, freezing out “undesirables,” and sweeping surveillance becoming the norm. Today, the U.S. has the power to wield economic sanctions against nations, entities and individuals it deems enemies of the state.
What happens, in the not-so-distant future, when it can wield this power against individuals on its home soil, preventing them from purchasing so much as a slushie without the say-so of Uncle Sam? Financial censorship isn’t just an American weapon, either — China’s social credit system has induced widespread consternation and condemnation. When coupled with the cashless transition occurring globally, the sort of dystopia envisioned in movies like “Minority Report” doesn’t seem so far-fetched.
Shopping, Minority Report style
Cryptocurrency Is Cash
Cryptocurrencies such as bitcoin are often compared to electronic payment systems such as Visa, particularly in terms of throughput and network effects. In truth, though, bitcoin has much more in common with paper cash than it does with its electronic equivalent. Like dollar bills, bitcoins are fungible, unfreezable and nondiscriminatory. They are worth the same amount in the hands of a pauper as they are in the hands of a prince. No credit history or bank account is required to own either. Cryptocurrency is cash for the 21st century.
Significant efforts are being expended on increasing merchant adoption of P2P cryptocurrencies such as bitcoin cash, while bitcoin core proponents are optimistic that BTC may be suitable for microtransactions again should the much-vaunted Lightning Network ever materialize. Realistically, cryptocurrencies are not going to serve as an egalitarian alternative payment system in cashless stores any time soon. Nevertheless, they serve a vital role as the world distances itself from cash, providing pseudonymous and censorship-resistant money for the masses.
Do you think cashless businesses are discriminatory? Let us know in the comments section below.
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