EOS/USD needs to keep support at the 23.6% Fibo to stay away from further declines. EOS price breaks rising wedge pattern support, declines are in full swing. EOS price is one of the biggest losers among the top ten largest cryptocurrencies by market capitalization. The trend is strongly bearish and it has plunged more than 3% on the day. There was an uptrend initiated after the price tested the $6.5 support. While the price easily broke above the resistance at $8.5, it ran out of momentum to clear the resistance at $9.0 opening the Pandora box that has had it butcher its way through various support zones at $8.5, the 61.8% Fib level with the last drop from the high of $9.45 and allows of $6.55 close to 8.25 and finally the key support at $8.00. The rising wedge pattern had been providing support in the past one week as seen on the chart below. However, the rising selling pressure above $8.00 broke the support culminating in the current breakdown that is threatening to slide below the short-term support at the 23.6% Fibonacci level between the highs of $9.45 and lows of $6.55 marginally above $7.20. The MACD momentum indicator is moving further into the negative levels while the 50 simple moving average on the 1-hour chart has crossed above the 100-day simple moving average signaling that the sellers have the control. EOS/USD needs to keep the support at the 23.6% Fibo to stay away from further declines that are likely to come into contact with $7.00. Moreover, the previous low at $6.55 is still within sight. EOS/USD hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD stays sidelined so far – UOB FX Street 5 years EOS/USD needs to keep support at the 23.6% Fibo to stay away from further declines. EOS price breaks rising wedge pattern support, declines are in full swing. EOS price is one of the biggest losers among the top ten largest cryptocurrencies by market capitalization. The trend is strongly bearish and it has plunged more than 3% on the day. There was an uptrend initiated after the price tested the $6.5 support. While the price easily broke above the resistance at $8.5, it ran out of momentum to clear the resistance at $9.0 opening the Pandora box that has had it… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.