Recovery Has No Impact in EOS Price As It Continues Drop!

2018-8-15 17:29

Even with Bitcoin undergoing a price recovery today, EOS has failed to maintain gains, as it trades around support level at $4.5. Yesterday’s candle was a dragonfly doji, which typically represents a turning point in the markets. But after some early gains, the price has retraced close to where it opened. The upward movements were on low volume, which supports that there is far more momentum in the downward direction. RSI is far into oversold territory, but with price struggling to record any significant gains over the last two to three weeks, it is unlikely to have any impact.

EOS Daily Chart

Price is currently trading in a range just above its support level. It seems set for another drop where it might be held up by the $4.25 price point, which has supported price previously. The MACD is crossing it’s signal line to the downside which is a typically bearish signal. Overall, the outlook is strongly bearish, and there seems little chance of a significant recovery. Even when other cryptos in the market have been undergoing recoveries, EOS continues on its downward spiral. It is likely that many investors and traders of EOS are offloading their positions in favor of fiat of Bitcoin.

EOS hourly Chart

Key Takeaways:

Strong bearish outlook for EOS as it continues its downward spiral Bitcoin is undergoing a recovery today but EOS trades flat Currently trading above support at $4.5 but looks set to drop below Macd crossing its signal line to the downside on the hourly, a typical bearish signal DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Recovery Has No Impact in EOS Price As It Continues Drop! was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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EOS (EOS) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.9581
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price recovery eos gains bitcoin continues drop

Источник: blokt.com

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