EOS has started making significant profits in the past few weeks after emulating the trend of Bitcoin and the broader market, but that uptrend appears to be coming to an end. The coin is trading on a bearish market again after Bitcoin fell to $ 33,000.
The token is trading at $ 3.99 on major exchanges at the time of writing, having fallen 5.4% in 24 hours.
The coin price analysis
EOS is currently trading in the same zone as most of the crypto market. Most coins are traded in the red, as is EOS. However, the price fluctuations of EOS currently show that volatility is low and investors who get in now can avert large losses.
The token has fallen below the $ 4 mark, which brings the token to a critical level. If the decline continues towards $ 3.50 and below, we will see strong bears that could propel the market towards further dips. A decline in token prices will occur if the market continues to collapse.
The coin could also rebound in the direction of an uptrend, which could cause prices to rebound above $ 4. If the uptrend continues, investors could watch the price of the coin rise above $ 5. In that case the cops will be strong enough. If investors step in to buy during the current drop in prices, prices for coins could consolidate at higher levels.
The coin blockchain is developing many use cases that give the EOS token popularity. Since the token is recognized as an Ethereum killer due to its scalability, the token could break the current lows and rise to a higher level.
The most notable project that started on the coin blockchain is BlockOne. The blockchain company recently raised $ 10 billion in funding and launched the Bullish cryptocurrency exchange to compete with Binance and Coinbase.
Where can I buy EOS?
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