A few months ago, EOS was one of the cryptocurrencies with the strongest bullish prospects at the beginning of the year. Even when there was an ongoing market correction, EOS managed to rise to $21.46. The cryptocurrency has gotten a lot of attention from different companies over the last few months. The launch of the EOS Mainnet also made it a talk of the industry. Unfortunately, the glory of EOS has come to an end. Since the beginning of June, EOS has been on a rough patch.
EOS to USD Price Analysis
EOS is down from it’s all-time high by 67%. This is discouraging to holders who have a lot of EOS tokens in their possession. It’s especially discouraging for those who purchased the cryptocurrency when the price was high. The price of EOS has fallen below $7.00 and it will most likely fall to $5 if the bearish pressure doesn’t stop soon. This is according to the price analysis on CryptoDaily.
EOS Price Today / USD
Within the past 24 hours, EOS has fallen by 9%. The cryptocurrency traded at $6.84 this morning. The market capitalization fell to $6.1 billion from Tuesdays $6.9 billion. The average trading volume of EOS is around $690 million. The project is really suffering a lot of pressure with issues like frozen accounts, Mainnet delays, RAM cost increase and so many other things causing pressure in the EOS community. Critics of EOS are taking full advantage of these problems.
As if the challenges facing EOS were not enough, a blockchain security company, PeckShield, ran analysis on the security of EOS accounts. Their result was that the accounts had significant vulnerabilities. They claimed that the accounts are vulnerable to rainbow attacks.
EOS to USD Technical Analysis
EOS fell as low as $6.74 during trading and the $7.00 level appears unsustainable. As EOS reached the $6.74 low, the support area also shifted to $6.00 and $5.9. Anything below this will be $5.1. Upward, the price can hit $10.00 but this seems unlikely with the current market trend.