Since August 14th, the price of the EOS has stayed constant inside a range-bound band. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets in spite of the bitcoin market’s extraordinary 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. As opposed to other players, diamond hands won’t be as eager to sell their holdings.
EOS is up 5.85% in market value from the day before and is currently trading at $1.53 on the CMP. In the course of intraday trading, the trade volume increased by 77%. This shows that investors are attempting to participate in the trade to prevent the price of EOS cryptocurrency from plummeting. Volume to market cap ratio is 0.2448.
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 continuing decline. 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 constant around $1.25 to $1.95. For EOS currency to cross the daily chart, the volume change, which is now modest in comparison to the average, must rise.
The price of EOS is falling quickly on the daily price chart. The EOS currency has to gain support from buyers in order to rise fast toward the top price range of the consolidation phase. Technical indicators show how strongly the EOS coin is currently trending downhill.
The relative strength indicator shows a decline in the value of the EOS coin (RSI). The RSI is about to break out of neutrality at 54. The MACD for the EOS cryptocurrency shows a bearish momentum. 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 trend.
Conclusion
Since August 14th, the price of the EOS has stayed constant inside a range-bound band. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets in spite of the bitcoin market’s extraordinary volatility. As it teeters at a record low, EOS is one of the digital currencies going through an existential crisis. EOS’s price has been constant around $1.25 to $1.95. For EOS currency to cross the daily chart, the volume change, which is now modest in comparison to the average, must rise. Technical indicators show how strongly the EOS coin is currently trending downhill. 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 trend.
Technical Levels
Support Level: $1.40 and $1.30
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.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
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