EOS News

EOS Lacks Steady Upward Traction as it Nosedived to $2.86

EOS price shrugged off its sluggish start to the year and took on a steady upward momentum than on, even peaking at $5.506 on February 15. However, from this high, the coin marked steep fall and traded below $1.5, but the currency continues to fight the bearish pressure at regular intervals as observed from the YTD chart with the price of EOS moving in the range between $1.4 – $5.5.

EOS Price Analysis

EOS price is now showing stable upward traction after being on a downswing since mid-February due to continual bearish pressure, as seen from the price movement of EOS/USD. This should bring cheers to the investor community as the currency is reflecting signs of a strong recovery. At the beginning of the ongoing year, the coin was trading around $2.5 with bullish influence.

EOS Price News
EOS/USD Chart By TradingView

EOS coin was trading above $2.5 for the first week, and later on January 14, it marked a steep hike and reached a high of $4.072. Though there were small setbacks due to bearish pressure, the coin still managed upward momentum and rallied to reach a high of $5.506 on February 15. The period after this saw the bears growing stronger and the currency facing continual rejection causing it to fall to a low of $1.426 on March 15.

However, the period after this has seen the EOS coin gathered an upward momentum. Later, the coin has managed to persist the upside trendline and reached a high of $3.12, but at the time of writing this analysis, the coin faced sudden fall, and the price dropped to $2.86. As per the month-long movement, EOS price might continue to trade upwards and breach the major resistance at $3.8 in the upcoming days. And if the currency faced rejection, it may find the next support around $2.5.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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