All the EOS Price At The Bottom that has ever been produced is now in circulation. Since April, the EOS price has fallen by 30%, suggesting that sellers are getting involved. The cost of EOS cryptocurrency is up 68% from its all-time low, while from its all-time high, it is down 96.46%. The EOS price has fallen by 96.46% from its peak and is currently near an all-time low when looking at the bigger picture. Price action has been rising.
As indicated by the chart’s structure, it has been defending the last swing lows in the near term. There was a turning point in February 2024 when the price of digital assets began to rise. Profit booking occurred when this upward momentum was halted around the $1.30 mark. With no clear trend over the last 24 hours, the price of EOS was trading at $0.81 as of the press. The market cap is $915.02M, and the trading volume is $84.05M, a 31% decrease from the previous day.
EOS Price Forms Ascending Triangle Pattern
The EOS cryptocurrency price has formed an ascending triangle daily near a critical breakout level. After finding support on the trendline, the price has just fallen below the crucial moving averages. Bearish momentum might be on the horizon if the ascending triangle fails to hold. A potential all-time low could be in the cards if the price falls below $0.650, a crucial support level.
The alternative is to anticipate purchasing momentum shortly if the price trades above the critical moving averages and trading volume increases. It might get close to the 52-week high if the other indicators back up this bullish trend.
As of this writing, the technical indicators showed that the price of EOS was trading below the critical moving averages. With an RSI of 48, a bearish crossover has occurred between the two indicators, marking the beginning of a downward trend. The technical signs point to a pessimistic prediction.
New Era For EOS Crypto?
One ‘X’ source claims that the EOS Network has just approved a groundbreaking tokenomics strategy to increase the economic potential of the EOS ecosystem. A new era begins for EOS with this.
The salient characteristics of the approved plan are as follows:
- Fixed Token Supply
- Fully Diluted Value Reduction (FDV)
- Halving Cycles
- RAM Market Support
This proposal aims to create a more sustainable and valuable EOS ecosystem.
Conclusion
Over a more extended period, the EOS price has followed a bearish pattern. It has fallen by 96.46% from its all-time high, indicating that sellers are holding fast. For now, the EOS cryptocurrency price is attempting to defend its most recent swing high to build positive momentum. Currently, the price is at the critical breakout level after forming an ascending triangle pattern.
Technical Levels
In the event of a price decline, $0.700 and $0.540 can support the EOS price. However, the $0.810 and $1.10 levels can act as resistance if the price gains purchasing excitement.
Disclaimer
This article offers no investment, financial, or other advice; it is merely informative. Any potential economic loss arising from investing or trading is not the responsibility of the author or anyone referenced in this post. Before making any significant purchases, please educate yourself.
