When the overall cryptocurrency market sentiment sours a bit, it is only normal some projects lose more value than others. Whereas most people have high hopes for Bitcoin, it seems the current momentum doesn’t warrant too much optimism. The EOS price is also going down significantly, but that was somewhat to be expected. EOS Price Momentum Sours and Follows Bitcoin’s Trend In the cryptocurrency world, virtually all markets rely on Bitcoin in one way or another. Most of the time, that allows altcoins to turn bullish when Bitcoin does much of the same. However, if the world’s leading cryptocurrency turns
The post EOS Price Faces Bearish Pressure as all Momentum Sours appeared first on The Merkle Hash.
Powered by WPeMatico
Earlier today, all of the cryptocurrency charts looked rather bearish for a moment. That situation is slowly changing, as most of the top markets are green across the board once again. The EOS price is rising very strongly, and the currency reclaimed the #4 spot in the market cap rankings by surpassing Litecoin. A very impressive development, given all of the recent market turmoil. Bullish EOS Momentum Gets Traders Excited In the cryptocurrency world, there is hardly ever a boring day. Something will happen at one point or another, primarily because these markets seem to operate independently from one another 
On Feb 9, EOS is trading at $2.35, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex. EOS continuing its downtrend. After converging and hitting 61.80% Fibo on H4, the coin is correcting; it has already reached 50%, being around the diagonal channel resistance, and may head up further to $2.57. Conversely, in case the current low at $2.18 gets broken out, the price may go down to 76% Fibo, or $1.95. On H1, EOS bounced off the resistance and started going down, although still trying to take down the resistance area. The price may break out $2.43, which will
