EOS price analysis shows that the altcoin struggled this week since the 27 percent drop and it later saw a further decline of another 3 percent over the past 24 hours. Now as we are about to see in the latest altcoin news below, EOS lost more than 50 percent over the past three months and is now starting the long road of recovery.
EOS still remains the seventh-largest cryptocurrency with a market cap of $2.61 billion. Since the previous EOS price analysis, the cryptocurrency suffered dramatically amid the Bitcoin bloodbath and which led the altcoin to drop beneath the support of $3.000. The EOS/USD pair continued to slip further until it managed to find support at $2.64 which was provided by the downside 1.414 Fib Extension. Looking at the altcoin from above, the nearest resistance levels lie at $2.98 and $3.00. above these levels, the resistance lies at $3.20, $3.50, $3.99 and $4.00. The resistance between $4.00 and $4.50 can be maintained due to the 100-days EMA and 200-days EMA being stationed here.
The nearest level of support from the low side lies at $2.64 but if the sellers manage to push the market beneath the $2.60 support, the new line can be found at $2.50 and $2.25. Lower support can be expected from .
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04 and $2.00. The trading volume is still relatively low. The RSI reached oversold conditions as well which suggests that the sellers are now in total control. The Stochastic RSI produced a bullish crossover signal which means that the price can rebound higher. As per the crypto news and analysis, compared to BTC, EOS continued to fall from the resistance at 0.000405 BTC until it found a current support level at around 0.0003325. For the past 2 months, EOS was in a trap within a range between 0.00047 and 0.000305 BTC.
The nearest level of resistance from the upper side stands at 0.00038 BTC and above this, resistance can be found at 0.000405. Beneath this, the support is located at 0.0002904 but the trading volume is still very low. The stochastic RSI produced a bullish crossover signal which is expected to send the market higher.
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