Most of the cryptocurrency markets are wanting fairly wholesome right now. That might come as a shock to most, primarily as a result of final week wasn’t wanting overly spectacular by the point the weekend got here round. The EOS value remains to be going sturdy proper now, because it has efficiently surpassed $5.5. Sustaining an uptrend on a Monday will all the time be a problem for any market.

EOS Price Needs More Support at $5.5

It is all the time fascinating to see how particular person cryptocurrency markets evolve when a brand new week begins. In most circumstances, there shall be some bearish strain, though that doesn’t seem like affecting all markets as of proper now. There is all the time a risk a bearish development will materialize in the close to future, however for now, many of the prime markets stay in the inexperienced. EOS is not any exception in this regard, as its rise to $5.5 is fairly fascinating to control.

To put this in perspective, the EOS value has gained four.58% to rise to $5.54 on this Monday morning. There can also be a 2.48% acquire in EOS/BTC, as this ratio has now risen to zero.00107 Bitcoin. Both tendencies are fairly fascinating in their very own proper, though it stays to be seen what the longer term will maintain for this explicit market. Other property and tokens are coming beneath a little bit of bearish of strain already, but it stays to be seen how EOS handles this strain in the approaching days and weeks.

On social media, there are all the time some fascinating views on the totally different cryptocurrencies, tokens, and property. CryptoTIm is now seemingly satisfied Twitter is designed for folks to allow them to hold tabs on EOS associated issues. It is a little bit of a stretch, though one has to maintain in thoughts cryptocurrencies could be much less engaging if it weren’t for platforms like Twitter. The actual objective of this social media community may be very totally different,  although, however everyone seems to be entitled to their very own ideas.

Some group members are additionally getting excited concerning the upcoming Block One occasion which is going down throughout June. Although it stays to be seen if there shall be any main bulletins, occasions normally get cryptocurrency customers excited in basic. Conferences like these additionally deliver the EOS group nearer collectively, which might solely be helpful to the ecosystem as an entire, in the top.

When it involves wanting on the present and future value development, there are nonetheless quite a lot of questions which might’t be answered proper now. Varun Mehra claims EOS is on a bull development and can proceed down this line for a while to return. A little bit of an optimistic view when the hourly charts for all markets don’t look too interesting. However, cryptocurrency is an unpredictable business firstly, thus something can occur in the approaching hours and days.

While EOS remains to be exhibiting some bullish indicators, surpassing the $5.5 stage will undoubtedly meet some resistance ranges in the approaching hours. For merchants, it’s normally all about surpassing psychological limitations firstly, and $5.5 is a type of key ranges for EOS. The buying and selling quantity nonetheless appears fairly sturdy, thus there might not be an excessive amount of of a dip immediately. However, all the things stands and falls with Bitcoin, and the world’s main cryptocurrency doesn’t look too sturdy right now.


Disclaimer: This shouldn’t be buying and selling or funding recommendation. The above article is for leisure and schooling functions solely. Please do your personal analysis earlier than buying or investing into any cryptocurrency.

Image(s): Shutterstock.com

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