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  • EOS is sitting above $8.00, but the overall bias is bearish.
  • EOS New York reports on BPs crash.

EOS is down 4.5% on a daily basis, changing hands at $8.6 to press time. The coin hit $9.4 high on June 4 and has been sliding since that time amid lack of fresh supportive catalysts.  

EOS takes the fifth place in top-10 with current market value $7.7B and the average daily trading volume $477M, which is nearly two times lower than on Friday. The coin is moving in sync with the rest digital assets, but the internal problems of EOS network and disputes among the community members may add downside pressure.  

The news that some block producers crashed due to galloping RAM prices came from EOS New York. The crash was caused either by BPs node configuration or by the fact that they had only 1 GB of RAM. One MB of RAM now costs $873.

“Some Block Producers crashed when RAM usage on EOS exceeded 1GB tonight. Either they only had 1GB, or they did not configure their node to properly set it at 64GB. This is a violation of the regproducer agreement. EOS New York produced on schedule. We are still confirming details,” the tweet says.

EOS technical picture

Looking technically, EOS/USD is stable above $8.00 handle, which mitigates bearish pressure. Once this level is broken, the downside momentum will get stronger with the next bearish aim spotted at $7.00 and 6.89 (the lowest level of June 24). On the upside, the nearest resistance area is created by at $9.00, followed by $10.00 and $10.72 (50-DMA).

EOS/USD, the daily chart