Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => EOS Forum => Topic started by: PRIBO247 on December 11, 2018, 05:44:58 PM
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EOS has heavily depreciated since its mainnet launch on the
14th of June where it traded around $10.50. The EOS token for
the blockchain aimed at being a key competitor to Ethereum
currently trades around $1.8.
The price of EOS consolidated leading up to mid-November
around $5.4. Extremely bearish market conditions then
overswept the market and EOS had been trading aggressively
downwards since. The decline has been forming a steep
downward trend line making it likely that the depreciation will
continue. The RSI and MACD are decreasing showing
momentum on the side of sellers.
The hourly chart shows the downward trendline in closer
detail. While the price has briefly traded outside of the trend
line, it quickly turns back inside and continues its downward
movements. Momentum is also on the side of sellers on the
shorter-term hourly timeframe with both the hourly RSI and
MACD also decreasing.
The outlook for EOS is extremely bearish, and it is likely to
underperform other cryptocurrencies if prices in the market
continue to decline.
Key Takeaways:
* EOS has severely declined since its mainnet launch in
June.
* EOS consolidated coming into mid-November but entered a
steep downtrend as bearish market conditions overcame
the market.
* Strong seller momentum on both the daily and hourly
chart.
* EOS is likely to continue its downward movement and
underperform other cryptocurrencies.
Source : https://blokt.com
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Maybe I will add again if the current market is indeed downtrend.
All cryptocurrecny prices are also down including bitcoin and Ethereum.
Very sad to see it but indeed the fact is like this.
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EOS will rebounds back to its top in price. The market has been down and that has seriously affected the price of all tokens in the market, and no one wants that to continue. When the market recovers, and EOS does not recover, that's when it has issues, EOS is already recovering, and that's a good sign for the project.
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It doesn't matter if EOS is decreasing in price because EOS has a smart contract that many tokens have.
As usual, more and more tokens from the EOS platform are good for EOS circulation and can stabilize the price.
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Not only EOS, but also all coins are falling due to the influence of this weak market. Market indicators are strongly correlated with BTC prices, so once BTC re-trends, EOS will also return.