Price Analysis

EOS Price Analysis: Bearish Trend Embarks In EOS Prices

EOS price trend seems to be slightly moving downwards. The rest of the currencies are dealing in positive number and trying to recover from the recent price drop. The same was expected from EOS, but the present situation is disappointing. The movement of the price and its momentum has made us wonder about the recovery in the EOS prices.

The parent company of EOS is planning to builds a social media platform, Voice on EOS blockchain. Along with this, EOS is also planning futuristic business ventures which are undoubtedly pointing towards a great future, but the current scenario is making the investors worried.

To understand the momentum better, let’s have a look at the current statistics of EOS.

The chart is taken from Trading View, on 8th June 2019, at 06:38 UTC for price analysis.

EOS Price Chart - 8 June

  • The current price of EOS is 6.49 USD.
  • The ROI of EOS is marked as 536.30%.
  • EOS is at the 6th rank in the crypto market.
  • Market capitalization is around $6,025,683,627 USD.
  • The 24hr volume is marked as $2,588,437,643 USD.
  • The circulating supply is 918,215,973 EOS.

EOS Price Chart - 8 June

Looking at the charts, we can observe that yesterday, i.e. on 07th June 2019, the movement was bullish in EOS. The prices jumped from $6.4 to $6.8. However, after touching a high of $6.8, the currency dropped to $6.5, marking a regression of 4.4%. Today, the market opened at $6.60 and jumped till $6.69, and now at 06:38 UTC, EOS is trading at $6.49. The regression from $6.69 to $6.49 is close to 3%.

Talking about the YTD time frame, EOS started at $2.7 at the beginning of the year, and now it is at $6.4, that means the price has doubled itself in a matter of 5 months. The price touched a high of $8.59 and came under selling pressure. EOS experienced a drop of 27% at around $6.2.

EOS Coin Price Prediction:

EOS upcoming business ventures will give good returns. The current scenario is best for the long term investors to enter in EOS. In the coming years, we can expect a high dividend on the outlay.

However, the present time is not good for short term investors. We would recommend them to wait for some more time to ensure the return.

Conclusion:

The chart analysis has indicated that EOS will take some more time to come out of the price drop. Till then, the short term investors are requested to stay put. The long term investors have nothing to worry about as the future of EOS is brighter as the sun.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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