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EOS Price Analysis: Can EOS Recover From The Latest Drop?

EOS is an interesting coin, even among cryptocurrencies. It was developed to be a development platform, similarly to Ethereum, and the high amount of potential that it had earned it the chance to be considered an Ethereum killer. However, the coin ran into numerous difficulties along the way, and its price suffered as a result.

EOS in 2019

On December 18th, 2018, EOS once again managed to breach a resistance at $2.40, which then started acting as a support level. EOS entered the new year right above this level, even though it breached it several times throughout January and early days of February.

On February 8th, the coin started growing further up, although a surge was prevented by a $3 resistance level, which EOS finally breached on Feb. 18th, only to be stopped by the next resistance at $4. It briefly breached this one as well on February 23rd, but the return of the bears the very next day brought it back down.

EOS was then being held between the support at $3.36 and resistance at $3.60 for around eight days, until yesterday, when its price dropped once more, breaching two supports at $3.48 and $3.36 until it was finally stopped at $3.24. This is the support which prevented it from dropping further in the previous 24 hours, but the coin was also unable to grow back up.

About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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