Barring Tether, EOS was the best performer in the past seven days, rising just under a percent.
Freewallet, a cryptocurrency wallet, announced a release of a new EOS wallet where users can perform all transactions free of charge. During the week, the EOS network saw its unique daily active account hit a record of 60,000. Will the rising popularity reflect in higher prices?
(https://s3.cointelegraph.com/storage/uploads/view/be49b573331697845e8952d71493f739.png)
The EOS/USD pair fell to its year-to-date lows of $3.8723 on March 18. From there, it rose to a new high of $23.0290 on April 29, a rise of about 494 percent in just over a month. However, the breakout to new highs above $18.67 turned out to be a bull trap because the prices have plunged about 76 percent since then.
From mid-August, the virtual currency has been trading in a range of $6.8299-$4.4930. A breakdown of this range will retest the critical support at $3.8723, below which the fall can extend to $3 and $2.4.
On the upside, a breakout of $6.8299 can push prices to $9.4456. If this level is crossed, the price can move up to $15.
Source: COINTELEGRAPH (https://cointelegraph.com/)