EOS Price Analysis: EOS Price Trend Shows Downward Momentum

Block1 has launched a new blockchain based social network named Voice. A noteworthy fact is, Block1 is the same company that developed the source code for EOS and currently supports the blockchain. Speaking at the event, the CEO of Block1 said that social networks, till now, were designed to use their users and exploits user’s data for advertising. The voice is aimed at reversing the process and transferring the control back to users.

Current Statistics of EOS coin:

• EOS price was trading around USD 4.6389.
• With an ROI of 348.41%, the circulating supply of EOS was 922,751,241 coins in total.
• Along with that, the Market Cap of the EOS was 4,267,362,260 USD.
• The 24-Hour Volume of the coin was 3,975,975,753 USD.
• Against Bitcoin, EOS was trading at 0.00040497 BTC.

EOS to USD Price Comparison:

Yesterday, EOS opened at 5.90 USD, and with a huge decline of 10.32%, it wrapped the day at 5.29 USD. In today’s trading, EOS coin traded flat for some duration then fell and again maintained the level. Yesterday, a coin made a sharp decline of 11.55% from $5.8233. EOS hovered around that level till 3:21 UTC today with an overall decline of 5.62% in that period. And there came another drop of 15.62% from the trading price of $5.1586. The coin fell to the level of 4.353 USD (the lowest intraday price). From there, it gained some momentum but kept moving below the baseline. Soon the price came back to the level of $4.5 and kept fluctuating around it. Finally, until the time of writing, the coin has shown an overall strengthening of 5.84% from the lowest intraday value.

EOS Price Prediction:

EOS may trade around $10 by the end of the year. Not to forget that it is the market which dragging all of the cryptocurrencies and EOS is not an exception here. At present, there is support for coin at 4.595 USD and immediate resistance at 5.78 USD.

Conclusion:

EOS coin is inherently a strong altcoin and expected to give a good return in the long term. As of now, the market is dragging it down. With the launch of the new social network, EOS would expect to grow its community further.