EOS price had been moving above the baseline, but the bears are getting the better of it and have succeeded in pushing the price downwards over the past one-day. Looks like the bears are going to have a stronger hold over the crypto market and EOS price is affected by the same. The price has been moving in the range of $2.7 -$3.7 over the past 24 hours.
EOS to USD Price Analysis
EOS price was trading well during the first half of Sep 24, but by the end of the day, the price had gone below the baseline indicating the bears being strong. From a price of $3.7111, EOS went down to $2.6319, the downward movement was to the extent of 29.08%. Later, the price rose slightly to $2.9124 by 5.98%. The current day trading price of EOS is at $2.8427, which is lower by 2.40% when compared with the latter price mark.
EOS was performing great since the beginning of the year and was moving at a steady upward pace. The price had even reached its peak in June but then volatility crept into the market turning the tide for the coin, like most altcoins. The bears began gaining a strong foothold in the crypto market in July and this affected the price of EOS which went on a downslide at continual intervals. Even now, the price of EOS is mostly below the baseline, indicating that the crypto market would be bearish in the short-term. Analysts feel the crypto market would be bullish by the medium-term and EOS would also pick up the moderate bullish trend by then.
Current investors can continue holding on to the investments as the crypto market is still volatile and selling at this stage would only result in losses. Short-term traders should be extra cautious while trading.