EOS witnesses heavy sell-off, continues to trade below $2
The crypto market is under a bear storm. Most cryptocurrencies are trading in red and are seeing increased selling. The collective market cap has dipped roughly by $2 billion in today’s trading session. Ethereum Classic is the only coin trading in green among the top cryptocurrencies. EOS faced stiff resistance at $2.1 and a bearish pressure caused the prices to tank below $2. It is one of the top losers in the market today.
EOS prices are amid a severe seller storm. The prices are falling at the rate of 8.67% and are aiming to touch the last support level found at $1.56. The next support level for the crypto asset can be found at $1.81. The MACD levels for the coin indicate that the coin is trading below the bearish trendline. The RSI indicator suggests that there is an increased selling of the cryptocurrency in the market. The 100 EMA line trading at $1.97 shows that the digital asset is on a downtrend. At the time of writing, the virtual currency is trading at $1.86 with a market cap of $1.6 billion.
The virtual currency is falling against Bitcoin [BTC] at the rate of 4.64%. Currently, one EOS is equal to around 0.00054133 BTC.
EOS Latest Updates
- Block. One, the developer of EOS joined by galaxy Digital led a $30 million Series A investment round in U.S. banking platform Good Money.
- Starteos, a block producer for EOSIO is being accused of vote buying. The company published a blog on November, 27 which said that it will share its proceeds from the EOS wallet with the community. The blog called “We Gonna Share BP Proceeds with You – This Is the Way We Warm You Up in This “Winter”! openly offered financial benefits to EOS token holders who will vote it as a proxy. This can be looked at as bribing the community with more tokens for voting Starteos as a proxy.
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