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Bulls Resilient Against EOS Bears as $2 Support Level Holds

Cryptocurrency May 01, 2022 10:00AM ET
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Bulls Resilient Against EOS Bears as $2 Support Level Holds

  • EOS experienced an 8.93% drop in price against the US dollar in the last 24 hours, taking its price down to $2.06.
  • EOS has also weakened against Bitcoin (BTC) and Ethereum (ETH) and dropped more than 7% against each coin.
  • Chances are good that bulls will continue to fight against EOS bears that are looking to take the price down to below $2.

EOS experienced an 8.93% drop in price against the US dollar in the last 24 hours, taking its price down to $2.06.

According to CoinMarketCap, the 24-hour price fall that took place with EOS is more than half of the 7-day drop that the coin had in the last 7 days.

EOS has also weakened against Bitcoin (BTC) and Ethereum (ETH) and dropped more than 7% against each coin. At the time of writing, 1 EOS is worth 0.00005401 BTC and 0.00074 ETH.

One figure that has increased for the coin is its 24-hour trading volume, which saw a 6.77% increase to take the market capitalization to $509,405,194.

EOS price fell to support level yesterday (Source: TradingView)

The daily chart for EOS/USD shows that the price of EOS fell dramatically to below $2.00 before bouncing back and closing slightly above $2.00. The price has seemed to briefly consolidate near the $2.00 support level.

The relative strength index (RSI) 14 shows that EOS is between oversold and overbought, indicating that the price movement in the coming days may head in any direction.

The most recent occurrence of the price of EOS dipping below $2.00 was in the middle of April when a trade for EOS closed at around $1.95 during its bullish move towards $2.70.

The last couple of occurrences of the price testing the $2.00 support level were all followed with bullish movements. Given that the most recent attempt made yesterday by the price was met with a strong bullish resilience, it’s fair to say that bulls will continue to fight to maintain this support level at the very least.

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Bulls Resilient Against EOS Bears as $2 Support Level Holds
 

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