EOS (EOS) has been on a downtrend for essentially the most a part of this yr. The coin managed to see a couple of rallies, however the normal development has been on the south. The coin has not too long ago fallen beneath an important assist zone. Here’s what we all know to date:
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EOS has fallen beneath $2.09, an important assist zone over the previous few days.
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The coin was buying and selling at $1.95 at press time, down round 4%.
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We anticipate EOS to retreat in the direction of $1.85 earlier than its subsequent leg up.
Information Supply: Tradingview
EOS (EOS) – Will the downward development reverse
There have been some indicators final month that EOS had began to show a nook. The coin actually rallied fairly considerably, in some unspecified time in the future testing the $3 mark. However issues haven’t been clean crusing ever since. Because the crypto market comes underneath extreme strain, we now have seen EOS drop even additional.
Nonetheless, most analysts had been trying to see if the token would maintain the $2.09 assist zone. Whereas bulls tried to defend this threshold fiercely, the weak spot was simply an excessive amount of. In consequence, EOS is now buying and selling at $1.95, and we anticipate weak spot to proceed within the coming days.
The token is prone to fall and begin consolidating at round $1.85 earlier than it finds its subsequent leg up. But when bulls are usually not capable of defend $1.85 sufficiently, we may even see additional drops within the close to time period.
Why you can purchase EOS?
EOS (EOS) is a extremely scalable blockchain that’s used to launch and deploy decentralized purposes. With a market cap of round $1.9 billion, it’s certainly a promising long-term mission that might provide immense worth for any investor.
Though EOS has seen some weak spot in current days, the long-term outlook, particularly over a yr or so, nonetheless stays excellent.