- EOS/USD receives boost from key demand zone, a daily close above is important for further upside.
- The crypto market wide continues to struggle finding a bottom, uncertain times still remain.
The EOS price in the latter stages of trading on Thursday, was seen down over 2%. Thank to a chunky demand zone within the mid-$4 region, this prevented the price free-falling down to the deep south. The daily closure above this demand area would be key for the bulls.
EOS/USD did drop to its lowest levels seen in over a year, inline with the continued weight seen across the cryptocurrency market. It appears the market in general is searching for the bottom, which for now remains unclear.
Technically, the above-mentioned demand area, seen tracking from $4.70 down to $4.20. Should the bears pierce this area, it could serious devastation, seeing a large drop down to the $3 territory. Buyers defending this area, should provide a boost back towards the high $5 region, it is just a question as to how sustainable that move would be.
EOS/USD daily chart
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