- EOS has been a sell since mainnet launch.
- Focus will shift onto $10.00 if $12.80 is broken.
EOS/USD is changing hands at $13.00, off the early low registered at $12.83. The coin is down nearly 10% since this time yesterday and lower from the start of the day. EOS has been under strong selling pressure after the mainnet launch as the hype that supported prices before the event is fading away.
Looking technically, EOS/USD found short-term support at $12.80 handle, strengthened by 200-SMA (hourly chart). The fresh buying interest may take the price towards $13.46 (50$ Fibo) followed by 100-SMA currently at $13.59, but further recovery seems unlikely as long as the global crypto market is gripped by bearish sentiments. On the downside, a sustainable break below the above-said 20-SMA will drag the coin lower towards $11.20 (61.8% Fibo).
From the longer-term perspective, the critical support is created by $10.85, which is the lowest level since May 24, and psychological $10.00, followed by 200-DMA at $9.32. The recovery is limited by $14.00 with 50-DMA at $14.13, followed by $15.50 and $15.70 (38.2% Fibo).
EOS/USD, the hourly chart
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