EOS Price Falls And May Fall Below A Significant Support Soon

EOS price has taken a dip as the market is suffering a sideways turn in a bearish momentum. EOS isn’t the only cryptocurrency that is trading sideways in the market. Other cryptocurrencies in the market are also suffering loses and this isn’t going to change until the price of Bitcoin stabilizes. Within the last 24 hours, EOS has lost a lot of its value and it may fall as low as $7.5 if things don’t change. It may even go lower than this point.

EOS Price Declines Against The USD

As the price of Bitcoin trades sideways, the price of EOS trades sideways along with other digital assets and altcoins. EOS is heading North and this movement has been on for a few days now. There are no positive signs of an upward recovery and the worst is yet to come. EOS has fallen by 7.25% within a 24 hour period. This is a major setback and the altcoin holders are looking for ways to minimize their losses hence the sell off. The trading volume of EOS is high but this hasn’t helped the price of EOS in any way. Over the last 24 hours, the trading volume has been $823.439m. Most of this volume is accounted for by token sale which means the sellers are pressuring the market.

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EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$4.93
4.62%

The bearish pressure in the EOS market is increasing and the next few hours will determine how this is going to influence the market. Of all the cryptocurrency exchanges, OKEx is taking the lead in EOS trading with the USDT pair. It is followed by Huobi and Binance both of which are trading in close proximity. The EOS market isn’t receiving a lot of fresh capital right now but the situation may change soon.

While the price fluctuation is discouraging, it is not surprising. The cryptocurrency market is highly volatile and every cryptocurrency depends on the price of Bitcoin for stability. The next few trading sessions will determine if EOS will continue trading sideways or make progress.


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