- The latest data shows, that EOS is the market leader by the transactions volume.
- Technically, the coin needs to clear $2.75.
According to Coinmetrics data, EOS has become an absolute leader by the transactions volume. The second place goes to Tron, while Bitcoin tales only the fifth position, after Ethereum and XRP.
Meanwhile, CoinDesk analyst Peter Ryan points out that the results are natural and shouldn’t be surprising as smart-contract platforms usually have higher transaction activity that the coins focused on a store of value,
“Note: Smart contract platforms emphasize more transactions while store of value cryptocurrencies deemphasize.” he wrote in his Twitter.
Meanwhile, EOS is changing hands at $2.5 at the time of writing, off the recent low of $2.24 touched on Sunday. The fifth largest coin by market value has gained over 7% in recent 24 hours amid global cryptocurrency recovery, though further upside may be limited without fresh catalysts.
Looking technically, EOS/USD needs to recover at least above $2.56 (DMA50). The stronger resistance comes at $2.75, it is created by the sloping trendline from November 7 peak. A sustainable move higher will help to mitigate the bearish pressure and get a chance for a sustainable midterm rally.
On the downside, the critical support is obviously $2.0. Though, the bears will have to clear The lower line of daily Bollinger Band at $2.28 and the Sunday’s low at $2.24 first before they can proceed to a more ambitious goal.
EOS/USD, the daily chart
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