A few days ago the cryptocurrencies were enjoying the bullish sentiment in their values, but today the picture is exactly opposite and the cryptocurrencies values are under great bearish pressure. The top ten cryptocurrencies in the market are suffering bearish correction in their values. The market cap of the market is also lost 20% of its value in 24-hours.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Bitcoin SV, Litecoin, Binance coin, and Tron all are experiencing the downfall in their values. If we leave USDT and Binance coin as their values are decreasing under 10%. Tether is decreasing by -017% and the BNB is decreasing by -7.59%. And all the other eight currencies in the top ten cryptos are decreasing above 10%.
Bitcoin is decreasing by -10.88%, Ripple by -14.98%, BCH by -17.34% and the biggest loser of all is EOS and its value is decreasing by -19.56%.
Current Status of EOS: At the time of writing the value of EOS is trading at the value of $4.71 USD and its value is decreasing by -19.58%. The BTC value of EOS is at 0.00040620 BTC and it is also decreasing by -9.74%. The market capitalization of the currency is $4,344,504,563 USD and the 24-hour volume of the currency is $4,048,057,552 USD. The circulating supply of the EOS is 922,755,932 EOS and ROI of EOS is 356.51%.
The value of EOS has recovered from its intraday low of $4.3 and now trading at $4.7, but still, the currency needs to go above the value of $5.0 to recover from the bears. Below the value of $5.0 for EOS has worsened its short-term technical chart and surged the bearish pressure on EOS/USD.
The support level is created near the value of $4.3 which recent low of the EOS and it is followed by $4.23 and fib retracement of 61.8% for the upward move from $1.56 low. The downward movement is supposed to gain traction with the next target of $4.0.
On the upper side of in the short-term chart, the handle of $5.0 has a sustainable recovery and needed to alleviate the bearish pressure and provide the recovery for extended $5.8 (50 SMA on 4-hour chart). Then the obstacle will be followed by coupled $6.0 a psychological value with 100 SMA in the 4-hour chart.