EOS, at the time of penning down this analysis, was trading at $3.638. Over the past 24 hours, the currency has recorded a 6-week low at $3.319 due to a steep fall that happened yesterday. Moreover, the king of cryptos—Bitcoin has also nosedived below $9,000 and tested support as low as $8,500. Aligning the effect of the same on the other altcoins of the market, we see that the major coins have turned red.
EOS Rebounds After Hitting 6-Week Low
Taking a glance at the intraday chart of EOS/USD on Coinbase, we see that the coin has experienced a blatant fall and recorded a 6-week low at $3.319. However, at the time of writing, EOS coin made incredible progress of over 9% in less than 24 hours and is currently trading at $3.638. A notable rising trend that was seen forming has been taken over by the downtrend in action, presently. Thereby, EOS has tested the major support price at $3.5 after having overtly insulted the imminent support at $4 and $3.7.
Although there happens to be a bearish sentiment in the market, the technicals of the crypto appear bullish due to massive intraday correction from the bottom of $3.319 to trading above $3.5 at $3.638. Therefore, the MACD of the EOS takes a bullish divergence as it hits above the signal line, and the RSI lies at 52.41. To know further about price prediction for EOS, you can check out our price forecast page.
