EOS [EOS] hits consolidation, faces hard resistance at $2.8
EOS [EOS] prices are facing hard resistance at $2.8. The crypto asset has been trying to breach the $2.8 resistance since the past three days. However, strong seller pressure and matching buyer pressure has caused the digital asset to hit consolidation mode. EOS is currently one of the top gainers in the market. The overall crypto market is witnessing a positive investor sentiment as most cryptos are trading in green.
The crypto asset is stuck in a tight trading range today traced from $2.76 to $2.89. The crypto asset witnessed a short rise at the end of yesterday’s trading session and reached $2.89. The prices started falling today on the onset of a bearish momentum and began trading around $2.79. The asset is constantly being bogged down by a weak bearish momentum that is preventing the prices from touching $2.8.
MACD levels for the crypto coin suggest that it is trading above the bullish trendline. The 100 EMA line traced at $2.67 is indicating an uptrend. At the time of writing, the virtual currency is exchanging hands at $2.78 and is rising against USD by 1.83%. The cryptocurrency is currently trading with a market cap of $2.5 billion.
The digital asset is rising against Bitcoin [BTC] by 1.63%. At press time one EOS is equivalent to around 0.00075.
EOS Latest Updates
- EOS now holds a lion’s share in the dApp market. New data from DappRadar reveals that out of the top 50 dApps 26 of them run on the EOS blockchain. The Ethereum killer has beaten Tron, another elite in the dApp market. 21 of the top 50 dApps are run on the Tron blockchain. Ethereum’s performance in the dApp market is severely affected by rival blockchain technologies. Even though a dApp pioneer Ethereum seems to have fallen behind due to scalability issues.
- EOS no longer holds the fourth rank in the crypto market. Litecoin has shot past Bitcoin Cash and EOS to become the fourth largest cryptocurrency. The crypto asset currently ranks fifth in the digital currency market.
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