EOS is ranked at #8 beneath Tether in the market. According to the latest data obtained from coinmarketcap, the price of EOS plunged by 1.74% in the course of the past 24-hours. The trading volume recorded is $1.222 billion, whereas the supply has 926,692,712 EOS tokens in play for now. The total market cap of EOS is $3.822 billion.

After going through the candlestick chart for the EOS/USD pair on tradingview, bearish momentum was confirmed. The daily Relative Strength Index [for 10 periods] is at 41.53 and is heading downwards, indicating that sellers are back in action. EOS was in oversold territory midway through July, as RSI had sunk below 30 for a few days.

The Ichimoku Cloud [between lead 1 and lead 2] is red, and the colour change was noted from 25th July. The peaks for the Awesome Oscillator are also below the zero line. All these indicators point to pressure due to sellers being incredibly active in the market. Bullish divergence was noted during the last week of July, but the coin failed to recover in the market. EOS was previously ranked ahead of Tether and Binance Coin.

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Resistance for EOS can be found near the $4.59 region, whereas support exists close to the $3.8 mark. The EOS team must bring about further updates or newer dApps if it hopes to garner bullish momentum in the market. The TRON network now has over 500 dApps being used by hundreds in the ecosystem.

(Excerpt) Read more Here | 2019-08-09 05:54:16
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