EOS (EOS) Dropped Massively Today – Is EOS Going To Recover?

EOS (EOS) prices, for those who bought a month ago, are still ample margins to go and liquidate positions in strong profit. The short focus and the high risk of area breakage of $14. Is EOS (EOS) the next big cryptocurrency ready to detach itself from the group?

Nathan Reiff asked himself this question on investopedia.com after the digital currency, which was launched in mid-2017, seems to have all the right credentials to return to its historical highs and to surpass them with momentum in accordance with a recent report by Coindesk.

EOS quotations on a roller coaster

Currently, EOS (EOS) is the 5th most capitalized cryptocurrency on the cryptocurrencies market, with about $12,9 billion as market cap.

Today, Friday, May 11th, 2018, EOS crypto fluctuated between $14.40 and $17.70 in a trading session characterized by assignor quotations and a high level of volatility.

At the moment of this article, EOS (EOS) is trading at $15.19, after declining by a massive 17.19% in the last 24 hours. Yesterday, the crypto coin closed at $17.54, a value orbited by EOS since May 3rd, with an only exception, on May 8th when the coin got closer to $19.

What do the graphs say about EOS (EOS)?

Considering the cryptocurrency exchanges on the Bitfinex exchange, EOS (EOS) reached its historical peak on April 29th, 2018 when it reached the $23.03 level against the USD. Despite that massive increase, EOS has dropped quickly to $15.71, a level that corresponds to a Fibonacci retracement of 38.2% since the March 18 rally party.

As is clearly visible from the graph, the coin has fluctuated around the same values against the USD just to drop massively in the last 24 hours, culminating with the drop EOS experienced today.

As the coin is now struggling around $15, as I’ve mentioned above, its near future is not certain. The significant drop registered by almost every coin in the cryptocurrencies market also reflected on EOS (EOS). On the long-term, EOS is gonna come back to around its historical values against the USD, some analysts believe.

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About the Author: Anna Galvez

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