EOS price analysis: That bull market didn’t last long and the price is heading back to where it started from

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  • EOS price tumbles more than 60 pct from peak.
  • Breaks critical support in the short term.

EOS, which entered into its own bull market and was the only cryptocurrency to make a new high this year, has tumbled more than 70 percent from the top hit in April, that too after the mainnet launch that caught all the attention of the investors and miners.

EOS/USD is down more than 13 percent on day and is biggest loser for the day and for the week the price is already down more nearly 30 percent as of now.

On the 360-minute chart, the price of EOS has broken a key short term support and as a result would continue to face selling pressure at higher levels. Strong support now is placed around $7 mark while the resistances are placed around $7.5 and $8.2 levels.

EOS/USD 360-minute chart:

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