- The EOS token price breaks below the $3.35 mark.
- The EOS/BTC pair trades at 0.00006453 BTC with a rise of 9.21%.
- The 24 -hours volume of the token is $1.84 Billion, indicating a 180% rise.
The EOS token price breaks below the $3.35 mark in the daily chart. The downfall in the crypto-verse brings bearish sentiments on the rise for EOS as well. It is evident by the 20% fall in the past 24 hours.
The EOS price shows the start of a downfall as the price goes lower and shows higher price rejection as it breaks the support level. Moreover, the EMAs maintain a bearish alignment which increases the underlying bearish sentiments.
Furthermore, the token price shows a rising bearish momentum; moreover, the pivot point indicates support levels at the $2.45 and $1.30 mark if the price shows a bearish downfall. Moreover, on the flip side, the resistance level is at $4.45 and the $5.15 mark.
At the time of writing this analysis, it is around $3.12. However, the 24-hours volume of the token is $1.84 Billion, indicating a 180% rise.
Will EOS Token Price Continue To Reach $1?
As we have already mentioned, the EOS token is gaining the trend momentum and the rally finds supply near the $3 level. Hence, it is obvious that the bears are controlling the trend. Therefore, traders can find selling opportunities.
The RSI indicator indicates a rise for underlying bearishness as the slope enters the oversold zone below the 50% mark.
Moreover, The MACD and signal lines of the Moving average convergence divergence indicator are moving below the neutral area (0.00), indicating bearish momentum for the token.
Conclusion: From a technical perspective, the EOS token indicates increased trend momentum, however, to catch a better directional move, the crypto traders have to wait till the price closes below the $3 mark.
Support – $2.45 and $1.30
Resistance – $4.45 and $5.15
DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.