EOS Price Analysis: EOS Bulls are Trying Hard but the Sellers are Interrupting the Flow

EconomyEOS Price Analysis: EOS Bulls are Trying Hard but the Sellers are Interrupting the Flow08/13/2022Bitcoin Ethereum News

• Following the daily price of the more established cryptocurrency, BTC, the EOS price, after initially pleasing, is currently trading over a decent rising movement.

• The crypto asset is moving above the 20 and 50 days moving average and is approaching the 100 days one.

• The EOS/BTC pair is at 0.00005444 with an insignificant loss of 0.03%.

The EOS price after flattering is now trading over a good uptrend movement following the traditional cryptocurrency, BTC over the daily price. The BTC uptrend provides support to the other altcoin and the market can get an uplift, attracting investors. As the recovery is not enough the coin needs to attract more buyers to make recovery conspicuous.

One of the reasons for this stunted growth is the rising price which is also attracting sellers, to dominate this the coin needs more buyers or else the ecosystem can get trapped inside a downtrend movement. The trading volume is still at a decrease of 12% which needs to heal as it supports the price. Investors can enter the market now as the signals are bending over the bulls currently.

The current price for one EOS coin is trading at $1.34 which is at a little gain of 2.62% in its market capitalization in the last 24 hrs. The coin has a trading volume of 177 million with a considerable loss of 12.56% and needs to be focused ASAP the market cap of the coin is of 1.3 billion. The volume market cap ratio is 0.1315.

Source: EOS/USD by tradingviewWill EOS Sustain this Bullish Movement？

While looking over the chart we can observe a positive cross over the multiple EMA which is a strong indication for a bullish movement.

The MACD over the daily price chart also exhibited a fresh positive cross and now the buyers line is moving above the sellers signal line along with the rising green histograms. The relative strength after moving neutrally is now moving toward the upper region but can change any time to neutral again as sellers are activating. The RSI value is nearly equal to 62.

Conclusion

The EOS price after flattering is now trading over a good uptrend movement following the traditional cryptocurrency, BTC over the daily price. The trading volume is still at a decrease of 12% which needs to heal as it supports the price. Well the EOS bulls are trying hard to make the movement sustainable by attracting buyers but the bears are continuously interrupting the process.