EOS may appear dead as per the crypto’s current price movement irrespective of the intermittent rises in the previous quarter and recently when it spurred as high as $3.8, while currently trading with a sheer correction of over 25% in just two days. The current bearish candlewick led to a steep pullback below $3 and is close to testing the daily MAs’ major supports.
EOS’s current trading price is away from reclaiming the YTD high marked at $5.5 at the onset of the year and pulled back to as low as $1.5 on the daily chart in March. Despite the current price movement, EOS is seen trading amongst the top 15 cryptos of the global market. The major attraction here is that the EOS platform is lucrative enough and is, therefore, it is ahead of TRON, Monero, Tezos, etc.
EOS Price Analysis
Today, at the time of penning down this analysis, EOS was seen trading at $2.8 after a freefall observed from the recent 3-month high. Just when EOS price was seen spurring, the trend breached the upper Bollinger Band on the chart. But, unable to hold, one of the top 15 cryptos of the global market is seen trading close to testing MA50 & MA200 at $2.6 and $2.7, respectively.
The MACD line is seen declining towards the signal line after a bullish crossover on the daily chart, preparing for a bearish divergence due to price slash. The RSI is seen declining after having breached the overbought zone and currently lies at 50.65.