EOS Struggles To Hold Significant Support As Price Continues To Dip

The EOS to USD trading pair has taken a dip below $5 and is struggling to stay within the new support level. The price chart has a lot of red indicating that there is still bearish pressure in the market and the market may not recover anytime soon. Even if Bitcoin is trading slightly in green, other cryptocurrencies are still struggling to recover from the recent price tumble that affected the entire market. EOS is one of the cryptocurrencies that isn’t doing well.

The Price EOS Hangs In The Balance

EOS is still in a fragile state with little to no positive momentum to ignite an upward move any time soon. Although the exact reason for the price fall isn’t known, the bearish pressure is strong and it has left EOS struggling to hold above $5. Within the last 24 hours, the cryptocurrency has not had any positive momentum even with the price of Bitcoin trading in green. EOS has lost about $5.13% of its value within this same time period. The decline took EOS as low as $4.9 once again.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$1.82
-5.67%

EOS isn’t just negative against the USD but also against Bitcoin. It has lost 5.37% of its value against Bitcoin. EOS and other altcoins are struggling to gain momentum and the negative vibe in the market led to a corresponding loss of interest among short-term investors. Even with the price of EOS hanging in the balance, the trading volume is still relatively high. The total cryptocurrency trading volume in the market is also relatively high. EOS still records a trading volume of about $459m but most of this volume seems to be coming from sellers and not buyers.

The highest percentage of trading volume is coming from OKEx followed by Binance and Bitfinex. Huobi and Upbit are also following suit. Bitcoin’s momentum in the market has a big influence on altcoins. Hopefully, if Bitcoin enters another bull run, altcoins may follow. EOS, on the other hand, may fall as low as $4.5 in the coming days.

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