The Price Action of EOS is Giving Me Heartburn
The price action of EOS has not been pretty since the mainnet launch. Then again, there is a mantra in investing...
Buy the Rumor, Sell the News
More so it means generally things get bid up into an event and then many times sell off once that event comes to pass. This can happen for many reasons; the buzz is gone, the catalyst to buy is gone, etc, etc.
Grinding lower
Looking at the daily chart below you can see we have been on a steady decline since May (on par with most cryptos).
EOS at the moment is testing the most recent low it had just made a couple weeks back. It isn't looking to perky at the moment and the path of least resistance is still lower.
The $5.50 area is the next real level of support.
On the flipside, if EOS (and the market) can catch a bid then the upside target would be that $9 area (most recent prior top). In the end, the $10 mark is the big number for EOS, getting above that is key to see any kind of real run, but we have work to do before that is even on our radar.
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Disclaimer: All info in this post is my opinion and for informational purposes only
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Disclaimer: All info in this post is my opinion and for informational purposes only
I'm relatively new to crypto; but, when I think of EOS, I can't get past BTS.
BTS is still a 'promising' crypto, as it's the 'big player' on openledger.io; but, has never gained traction....yet?...lol....
I've 'watched' EOS for about a year...Here's a glimpse of a quarterly log I keep as a reminder of its promising volatility:
EOS...1.17/3.01/12.52
I can't say that I' ever really invest....but, it's crypto...never say never.
Best regards.
Peace.
Looking at quarterly prices is good for perspective :-)
Yep...the numbers tell a cryptic story...✌
Rough start for EOS
@scaredycatguide
Right thoughts you have @scaredycatguide, and set them cool
I would not call it bad times, but spring times. The price is jumping up and down but no one is thinking this will go below $1 soon. Quite the difference with Bitcoin when it was still young. Those were scary days...