Ellipsis Finance is a platform that lets investors swap tokens on the Binance smart chain efficiently. In this Ellipsis crypto price prediction, we will discuss what the project is trying to accomplish and whether the EPS token has a bright future.
What is EPS Crypto?
The Binance smart chain allows developers to port over their Ethereum projects with ease. However, there were issues with congestion and slippages which created a vacuum that Ellipsis seeks to fill.
The Ellipsis project was created to make it easy for investors to swap tokens on the Binance smart chain. The team believes that this will lead to more innovation on the Binance smart chain, as projects could get started with little slippages and higher efficiency. It is a fork of the Curve Finance protocol that uses a pool system similar to Pacakeswap and Uniswap.
EPS or ELLIPSIS is the token of the Ellipsis Finance platform. It is an ERC20 token that is used to pay transaction fees on the platform. It is also used as collateral for loans and to earn rewards for staking.
Ellipsis Crypto Price Prediction for 2022
EPS initially witnessed a lot of growth after it was launched. This was due to the hype around DeFi protocols and the potential of the Binance smart chain. However, the price has since corrected and is currently trading at $0.00053.
Ellipsis is a promising project that seeks to solve the issue of congestion and slippages on the Binance smart chain. The team is experienced and has a working product. Additionally, the project has good liquidity on major exchanges.
EPS is currently trading below the 40 SMA on the daily time frame. This is a clear indication that the bears are in control of the market. However, the RSI is close to the oversold levels, which suggests that a rebound is possible.
If EPS can break above the $0.0007 resistance level, it could start a new uptrend. The next major resistance levels are found at $0.0008 and $0.001. On the other hand, if EPS breaks below the $0.0004 support level, it could decline to $0.0001 in the coming weeks.
The value of EPS is strongly tied to the success of the Ellipsis project. If the platform can onboard more users and become the go-to protocol for swapping tokens on the Binance smart chain, EPS could surge to new highs. However, if the project fails to gain traction, EPS could lose a significant portion of its value.
On the bright side, Ellipsis announced a major upgrade that give rise to EPX – an improved version of EPS. This is something to keep an eye on as it could have a positive effect on the price of EPS.
Ellipsis is a promising project with a lot of potentials. It is currently trading at a discount and could be a good long-term investment. However, EPS needs to break above the $0.0006 resistance level to become bullish. If it fails to do so then it could decline to $0.0001 in the coming weeks.