Price analysis of Ethereum: ETH / USD is well supported for another bull run

• EOS / USD is very submissive to an imminent breach; notes the confirmation of the next committed direction.
• Huobi DM has now added EOS to its negotiable derivatives; users will be able to perform long and short operations.

EOS / USD is preparing its next move, as the price remains in the consolidation mode for the time being. Looking over the past eleven days, he saw a lack of commitment from both the bear or bull fields.

A blockage of the interval can be observed after the explosive thrust towards the north which initially began again on the 8th.^th December. EOS / USD found itself well within the $ 2 territory, following the downside violation at the start of the month. Another breakout is imminent, but the direction has yet to be confirmed due to the lack of technical information on this for now.

Huobi Derivative Market (Huobi DM) Adds EOS

Huobi, the third largest cryptocurrency exchange in the world, recently announced that their derivatives business will begin to support EOS. This was confirmed by Huobi through an official press release from the company. It is worth noting the size of Huobi, which has daily volumes of over $ 500 million.

Users who negotiate through the Huobi Derivative Market will be able to take both short and long positions using EOS tokens. The statement found that the following services related to EOS will be enabled on the platform: arbitrage, speculation and coverage.

Commissions and details of trading

In terms of commissions for trading EOS as a derivative, for producers it is 0.02%; the take to open and close positions will be 0.03%. The leverage on contracts will be up to 20 times, to support the usual price limit, order limit and position limit orders.

In this update, the CEO of Huobi Global, Livio Weng, said: "We have seen a great response to our Bitcoin and Ethereum contract services from a wide range of sophisticated traders, along with this we are also seeing a strong demand for the expansion of Huobi DM to other types of coins. of the EOS contract service is part of our ongoing efforts to meet customer demand. "

Technical analysis – EOS / USD

EOS / USD daily table. Price action is taking place in a block-based formation, subject to a breakout.

EOS / USD since 18^th December moved to a block formation. The maximum can be seen at $ 3.22, which was printed on the 24th^th December. The minimum of the current interval is $ 2,3276, observed between 27-28^th December.

If the bulls gather enough momentum towards the top, then violate the 24th^th In December, the eyes will return to the $ 4. territory. Between $ 4-4 and $ 50, this was formerly an area of ​​demand. It had been in play since March, until it was opened in November.

On the downside, a breakout of the low area $ 3.22 will initially see $ 2.18 called in action, which is 5^th December low. Further exposure south of the bears could therefore force a complete reversal of the recent December race.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.

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