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 Price Analysis
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.