EOS coin is still witnessing the ongoing volatility but showing great grit in maintaining the price level at regular intervals. The price movement since the beginning of this year shows that the price is moving between $1.4 – $5.5.
EOS Hints Potential Correction
EOS price has undergone huge volatility since the beginning of the ongoing year. The currency started this year on a low note at $2.562. However, it then marked continual upward momentum and reached its peak at $5.506 on February 15, raising the hopes of its investor community. After this tremendous growth, EOS price faced immense bearish pressure, and the coin corrected downwards at a tremendous pace. Around March 13, the coin spotted at a low of $1.426.
After this massive correction, the coin initiated a strong recovery, which took the price of EOS to $3.120 on April 30. However, after hitting above $3 mark, the currency faced rejection and started trading with a moderate downside momentum. Today, the EOS price spotted at $2.708 with having support from its 50-day MA at $2.48. The 50-day MA is around its previous resistance at $3.092.
The MACD indicator reflects the MACD line, and the Signal line is about to overlap, and it might reflect the bearish signal. And the current placement of moving averages is also reflecting bearish crossover. Hence, according to price prediction for EOS, the price might face correction and find the next support around $2.48 in the upcoming hours.
