There is probability that the price might go down within the next several trading days, by making a break out towards the south at $0.015.
EOS daily chart made its downward movement to the price level of $4.1 and bounced up towards the resistance level of $5.0, suggesting that there could be a form of a bullish reversal this week.
There is the possibility of a trend reversal in case there is a break out of the price at $0.18 supply zone, traders should wait for the breakout at the upper supply zone or break down at lower demand zone to occur before taking a position.
Stellar has been ranging between these levels ($0.2 – $0.18), We may expect the break out of the price at $0.2 supply levels which may leads to increases in the rates.
XMR continues its downward trending after breaking of $130 distribution level, the pair will experience further downward movement and get exposed to another strong accumulation level at $55.
![Weekly Blockchain Industry Report [August 4 – 10, 2018]](https://www.coinspeaker.com/wp-content/uploads/2017/11/report.jpg)
This week, the crypto market continued the bear trend. Major cryptocurrencies suffered price delince more than 10%. Among which, XRP got hammered and experienced greates loss of 26.2%. Apart from emotional factors, the major reason for this hit is the news that SEC rejected the application of Bitcoin ETF. We’ll dive deeper into this issue in the report.
Last week, the EOSUSD was bearish, there is currently some form of consolidation in the market, which denotes a “pause” before the market resumes its movement.
The Long-term trend of ADA remained bearish throughout last week; things are much oversold in the market, and that signals a possibility of a reversal.
Stellar has been engaged in continual bearish movements, owing to fundamentals that aid the current bearish outlook; the cryptocurrency made some faint bullish effort that was often followed by further drop in the market.
Monero has been trending downwards for months, thus only a radical fundamental event can forcefully bring about a significant rally in the market.
TRXUSD continues experiencing persistent bearish movements; enough buying pressure needs to be generated, before a meaningful trend reversal can occur.
![Weekly Blockchain Industry Report [July 28 – August 3,2018]](https://www.coinspeaker.com/wp-content/uploads/2018/08/blockchain-industry-report-july-august-2018.jpg)
This week, the whole crypto currency market experienced slight decline after the BTC ETF got rejected by SEC. Among top 5 crypto currencies, EOS experienced greatest loss of nearly 17%.
![Weekly Blockchain Industry Report [July 21-27,2018]](https://www.coinspeaker.com/wp-content/uploads/2018/08/weekly-blockchain-industry-report-july-2018.jpg)
Check out the report jointly created by OK Blockchain Capital and Coinspeaker covering main trends of blockchain industry over July 21 – July 27, 2018, with strong focus placed on the market overview, analysis of the newly listed and closed public sales projects, along with topical news on global governmental policies.
![Weekly Blockchain Industry Report [July 14-20, 2018]](https://www.coinspeaker.com/wp-content/uploads/2018/07/weekly-blockchain-report-july-2018-1.jpg)
Check out the report jointly created by OK Blockchain Capital and Coinspeaker covering main trends of blockchain industry over July 14 – July 22, 2018, with strong focus placed on the market overview, analysis of the newly listed and closed public sales projects, along with topical news on global governmental policies.
According to International Data Corporation’s expectation, the annual growth rate of blockchain solutions would amount to 75% through 2022.