EOS Price Analysis: Will EOS Recover Itself above $2.00, amid this Bear Market Bloodshed of Cryptocurrency?

EOS Price Analysis: Will EOS Recover Itself above $2.00, amid this Bear Market Bloodshed of Cryptocurrency?

  • EOS price is trying to recover itself towards the upper price range of the consolidation phase.
  • EOS crypto is trading above 20, 50, and 100 DMA and is still below 200-day Daily Moving Average.
  • The pair of EOS/BTC is at 0.00007693 BTC with an intraday gain of 2.46%.

Since August 14th, the price of the EOS has been constant within a range-bound region. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets despite the cryptocurrency’s tremendous volatility. As it teeters at a record low, EOS is one of the digital currencies going through an existential crisis. Investors in cryptocurrencies need to be as rock-solid as those with diamond hands during this tumultuous time. Diamond hands won’t be as eager to offload their holdings.

The EOS price is now CMP at $1.53, up 1.48% from the day before in terms of market value. However, during intraday trading, the trade volume is 9.03 percent larger. The implication is that customers are contacting vendors to withdraw EOS cash. The volume to market cap ratio is 0.3563.

The price of the EOS coin is obviously falling on the daily price chart. The cryptocurrency asset has returned to the consolidation phase near the 2020 lows as a result of the market’s sustained weakness. More purchasers must enter the market if the price of the EOS currency is to rise back to the higher price range of the consolidation period. EOS’s price has been stabilizing between $1.25 and $1.95. For EOS currency to cross the daily chart, the volume change, which is now below normal, must rise.

Will EOS Breakout of the Consolidation Phase?

The price of EOS is sharply falling on the daily price chart. EOS coin has to draw support from buyers in order to advance fast toward the top price range of the consolidation phase. Technical indicators show the strength of the negative trend for the EOS coin.

The relative strength index shows the decline of the EOS coin (RSI). The RSI is about to break out of neutrality at 53. The MACD shows a bearish momentum for the EOS coin. The MACD line is lower than the signal line following a negative crossover. EOS investors should keep an eye on the daily chart for any changes in trends.

Conclusion

Since August 14th, the price of the EOS has been constant within a range-bound region. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets despite the cryptocurrency’s tremendous volatility. As it teeters at a record low, EOS is one of the digital currencies going through an existential crisis. More purchasers must enter the market if the price of the EOS currency is to rise back to the higher price range of the consolidation period. EOS’s price has been stabilizing between $1.25 and $1.95. Technical indicators show the strength of the negative trend for the EOS coin. The MACD line is lower than the signal line following a negative crossover. EOS investors should keep an eye on the daily chart for any changes in trends.

Technical Levels 

Support Level: $1.35 and $1.25

Resistance Level: $1.75 and $1.95

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.  

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