Investment idea: Earn on the growth of EOS cryptocurrency
Alexander Klink, a professional trader, told how to earn on EOS cryptocurrency
Alexander Klink, a popular TradingView analyst, evaluated the prospects of EOS token and told about profitable strategies when working with the asset
EOS is a cryptocurrency to support the decentralized operating system EOS.IO. It is a blockchain platform for decentralized applications and smart contracts. EOS is used as a token within the EOS.IO network and provides users with access to resources such as processing power or data storage.
EOS.IO was developed by Block. One in 2018. It quickly became popular due to its high performance, scalability, and low transaction fees. This has helped EOS.IO attract the attention of developers and entrepreneurs who use it to create decentralized applications.
The EOS cryptocurrency was created based on Ethereum's ERC-20 standard but in 2018 Block. One released its own blockchain called EOS Mainnet and migrated EOS tokens to its own network.
Overall, the EOS network's high performance, scalability, and low transaction fees make it attractive to developers and users.
1. Increased interest in decentralized applications. Recently, we have seen increased interest in decentralized applications and blockchain technology. This could lead to increased demand for platforms like EOS.
2. Improving EOS technology. Developers continue to work on improving the platform and its protocol. A faster and more reliable platform will also encourage interest from developers and users.
3. Competition: There are other blockchain platforms, such as Ethereum, which also provide infrastructure for decentralized applications. Competition can put pressure on EOS and lead to a better product.
Let's move on to analyzing and making an investment plan to make money on this asset.
The collapse of more than 96% during the bear market of 2022 looks like a prolonged sideways slide if you look globally. Hence, this is an interesting time to look closely at potential purchases of the coin. There is one way you can go at the moment - investing.
The hourly chart of EOS/USDT on Bitfinex exchange. Source: TradingView
I would use 30% of the amount allocated for the investment in the $0.7-1.07 range with targets of $30-50 and above, without a stop, but with the understanding that the token could depreciate completely. The risk/profit ratio is 1:30.
The other 30%, I would use in the range of $0.30-0.45, and the remaining 30% - depending on the situation that develops further.
In total, I plan to have an average entry point of around $0.50 per coin with a potential target of $40-50. Risk/profit approximating 1:100.
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