EOS Price Analysis: What About This EOS Crypto Consolidation?

• EOS price is trying to consolidate inside the demarcated area of ​​the horizontal range on the daily chart.
• EOS crypto is trading at 20 and 50-EMA and is still 200 days behind DMA.
• The EOS/BTC pair is at 0.00007446 BTC with an intraday decline of 3.03%.

The price of EOS has remained stable within a limited range since August 14th. This existential crisis has led to panic selling in the cryptocurrency market. Despite the extreme volatility of cryptocurrency, investors try to hold on to their own assets. EOS is one of the digital currencies that is experiencing an existential crisis as it falters at an all-time high. During this turbulent time, cryptocurrency investors need to be as tough as those with diamond hands. Diamond hands will not be as eager to sell their holdings as other players.

EOS is currently trading at $1.48 on the CMP, a decline in market value of 2.58% from the previous day. However, the trading volume dropped by 49.04% during intraday trading. The inference is that users come into contact with companies to withdraw EOS money. The volume to market capitalization ratio is 0.1545.

On the daily price chart, the price of the EOS coin is clearly on the decline. Due to the continued market deterioration, the cryptocurrency asset has returned to the consolidation phase near 2020 lows. consolidation, more buyers need to enter the market. The cost of EOS remained stable between $1.25 and $1.95. The volume change, which is now small compared to the average, must increase for the EOS currency to cross the daily chart.

What do technical indicators suggest about EOS?

On the daily price chart, the price of EOS is rapidly declining. For the EOS coin to move quickly towards the upper price range of the consolidation phase, it must attract support from buyers. The strength of the downtrend of the EOS coin is demonstrated by technical indicators.

The fall of the EOS coin is indicated by the Relative Strength Index (RSI). At 53, the RSI is preparing to emerge from neutrality. For the EOS cryptocurrency, the MACD is showing bearish momentum. After a negative crossover, the MACD line is below the signal line. Investors in EOS should monitor the daily chart for any trend changes.

Conclusion

The price of EOS has remained stable within a limited range since August 14th. This existential crisis has led to panic selling in the cryptocurrency market. Despite the extreme volatility of cryptocurrency, investors try to hold on to their own assets. EOS is one of the digital currencies that is experiencing an existential crisis as it falters at an all-time high. The cost of EOS remained stable between $1.25 and $1.95. The volume change, which is now small compared to the average, must increase for the EOS currency to cross the daily chart. The strength of the downtrend of the EOS coin is demonstrated by technical indicators. After a negative crossover, the MACD line is below the signal line. Investors in EOS should monitor the daily chart for any trend changes.

Technical levels

Support level: $1.35 and $1.25

Resistance level: $1.75 and $1.95

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only, and they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He has been a specialist in management and trading for more than 5 years. Steve worked as a crypto trader, he loves learning about decentralization, understanding the true potential of blockchain.

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