At the beginning of today's trading session, EOS declined against the USD. The average trading volume of EOS was $46 million. There was a 4% loss in the value of EOS according to the EOS price analysis of Priyanka Babu from BCFocus. Trading at $8.62, EOS has been on a downtrend for a while now with a market capitalization of $7.7 million.
EOS Price Analysis: EOS to USD Pair
Against the USD, EOS is experiencing some selling pressure that may break it into lower lows. The cryptocurrency managed to find support at the $8.37 level this morning and is rising in price for now. While this may look like a good thing, the fact that the cryptocurrency sold at $9 on the 4th of June makes it less remarkable. The gains have been trimming off gradually and there is nothing to suggest an upcoming breakout in the $8.8 resistance level.
EOS Price Today / USD
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Getting to $9 dollars and crossing this point now looks farfetched for EOS. If the cryptocurrency is able to break the resistance and trade as high as $9, the path may be open for more gains and the price may go as high as $9.32 all the way to $10. If, on the other hand, the bears push more, the 61.8% Fibonacci retracement level of the last $9.3 to $7.16 swing will prevent more losses at $8.40.
EOS Price Analysis: EOS to BTC Trading Pair
EOS is losing against Bitcoin just like many other cryptocurrencies. One EOS was equivalent to 0.00131552 BTC at the time of writing. This indicates a loss of up to 3.44 percent against Bitcoin.
So, will EOS still sell as high as $30 by the end of the year? The price prediction from Cryptosphere places EOS above $30 by the end of 2018 and $143 in the next five years. With the current market events, it's difficult to determine if this prediction will come true. However, the cryptocurrency market is unpredictable long term. So, nothing is impossible.
Posted from my blog with SteemPress : https://smartereum.com/22888/eos-price-analysis-as-bears-struggle-to-gain-control-of-the-market-eos-fails-to-cross-the-9-support-eos-price-forecast-eos-price-prediction-eos-price-today-july-7th-eos-2018-price-pre/