Since its all-time high on August 22, EOS has been steadily declining. The crypto market had crashed from March to June, but has since recovered. The market crisis has a lingering impact on modern investing. Coingecko reports that the token’s value has increased by 0.2% in the last 24 hours. Even on shorter time intervals, like the week or the biweek, the currency rose in value. Nonetheless, these changes have done little to slow the downward trend. Investors and traders in EOS, though, may have reason to be optimistic. Related Reading: Tron Hits Record 117 Million Users, But TRX Price Increase Is Mediocre The Stress Of September As this is being written, EOS is being propped up by the $1.0055 area, which has slowed its decline since last month. The current price movement of the token is being influenced by the ongoing downturn. The right side of the right triangle acts as a liquidity pool, and this is reflected in the coin’s price action as a XABCD harmonic pattern. As investors and traders buy the dip, demand is introduced, and the trend may turn bullish as a result. Chart: TradingView Meanwhile, the technicals also appear to be lacking. The CMF is currently negative, indicating that bears are in control of the market. This provides an undeniably formidable counterbalance to the potential bullish movement. Immediate resistance at the 61.80 Fibonacci retracement level will be a challenging barrier to overcome. Not...
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