- EOS gains 10% as investors sentiments change in favor.
- EOS buyers have their eyes locked on $8.00.
Investor sentiments about EOS have been changing lately. This is reflected by the way the price is gaining traction. Besides, EOS/USD is reacting positively to the fresh investor interest. Many people are searching for news on EOS. Moreover, this interest has surpassed that of Ripple (XRP).
EOS is the 5th largest crypto in the market and according to the data on CoinMarketCap; it has a market capitalization of $5.3 billion. The trading volume is coming up as well, for instance, on August 25 it was plummeted to $356 million in comparison to the current volume at $658 million.
A look at EOS/USD daily chart shows that the crypto is making a steady headway from the recent descent that took it to the primary support at $4.0. In April this year, EOS embarked on a journey of breaking barriers to the top. The crypto became one among the few coins that have been able to break their highs at the beginning of year and trading new all-time highs at $21.65. However, the tailwind has been so great and EOS has been cancelled gains to the extent of trading April lows.
The fresh declines that began earlier this month broke the support at $7.0 (current) resistance. The declines continued below $5.00 but formed a low a low around $4.42 while heading to the primary support at $4.0. EOS is currently advancing upwards, similarly, it has cleared the resistance at $5.00. EOS buyers are testing the short-term resistance at $6.00 but their eyes are locked on $8.00. The 50SMA (daily chart) currently at $6.55 will limit the gains while a break above $8.00 will face a significant hurdle at the100SMA currently at the 38.2% Fib level with the last drop from $21.65 to a low of $0.57.
EOS/USD daily chart
Share
