EOS Price Near Bottom; Will It Recover Previous Losses Soon?

• EOS price has declined by 33% in the last 20 days.
• A bearish crossover was produced between key moving averages.

EOS price has been bullish for the past 6 months but selling pressure is visible in the short term. Since the beginning of March, buyers have lost momentum and sellers are leading the trend. Recently, the price has slipped below the 200-day moving average and went for the retest. 

According to the technical chart, the price has been rising by forming higher highs and higher lows. On a wider time frame, the asset price has been in a strong bearish trend and currently, the price is recovering from the base.

EOS Crypto Volume, Price, & Market Cap Analysis

The price and market has been increased but the trading volume has decreased for the week. The trading volume, price, and market cap have dropped for a month. For the last 3 days, the trading volume has increased by 100% which shows a positive effect on the price.

Will EOS Price Manage To Regain $1 Mark This Month?

EOS price has performed negatively for the long term and formed a base near the $0.520 level which is an all-time low. The price has gained buying momentum near the base and reached a 52-week high.

Recently, the price is defending the last swing low and buyers are trying to gain momentum. Suppose the EOS price surpasses the key moving average and sustains, buyers may lead the bullish trend for the next few weeks.

Alternatively, if the asset price falls back and starts trading below the last swing low then the selling pressure can be initiated. If the price slips below the major support level of $0.650, then it may be difficult for the sellers to bounce back.

At press time, the EOS price traded at $0.801 which has gained 2.53% in the last 24 hours. The trading volume is $899.15 Million and the 24-hour trading volume is $148.43 million. The circulating supply and total supply is 1,124,703,218 EOS and the fully diluted market cap is $900.41 Million.

RSI is 43 which is continuously declining and a death crossover has been generated between the RSI and RSI-based moving average. The EOS crypto price is below the key moving average which showcases the negative forecast.

Conclusion

EOS crypto price has been facing a bearish trend in the short term due to selling pressure. However, buyers are still trying to gain momentum and defend the last swing low. If the EOS price surpasses the key moving average and sustains, buyers may lead the bullish trend for the next few weeks. On the other hand, if the asset price falls back and starts trading below the last swing low, then the selling pressure may initiate. If the crypto drops below $0.650, it may make it difficult for the sellers to bounce back. RSI is declining, and a death crossover was seen between the RSI and RSI-based moving average, showcasing a negative forecast. 

Technical Levels

Resistance Levels: $0.850 & $1.120

Support Levels: $0.730 & $0.650

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.