Analysis

EOS [EOS] fails to breach $6, stuck in bearish consolidation

EOS [EOS]

EOS [EOS] prices are facing immense resistance at $6. The cryptocurrency has been trying to break out from $6 key resistance since the beginning of the month. The second key resistance for the coin can be found at $5.5. The crypto token registered a mere 0.78% growth in market value over the past week. The market cap currently stands at $4.8 billion. The overall crypto market is engulfed in a bearish momentum.

EOS/USD

The crypto asset is trapped in a consolidation phase today. The significant trading range for today can be noted from $5.1 to $5.4. The coin is currently trading around $5.3 and struggling to break out from the resistance at $5.38. The current support level for the coin can be traced at $5.18.

The MACD levels for the coin represents a bearish momentum. The hourly RSI shows increased selling of the coin. The 100 EMA line traced at $5.49 is signifying a downtrend. At the time of writing, the digital asset is trading exchanging hands at $5.31 and is losing against USD by 5.22%.

EOS Chart

EOS/BTC

The virtual asset is losing against Bitcoin [BTC] by 2.46%. At press time, one EOS is equivalent to around 0.00105 BTC.

EOS Latest Updates

Moonlighting, a marketplace for freelance professionals have shifted its user base to EOSIO blockchain. The company chose EOSIO “due to its ability to scale transaction processing, maintain low transaction costs and enable ease of user account management”.

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