EOS Price Needs More Support at $5.5

EOS Price Needs More Support at $5.5

Most of the Crypto markets are looking quite healthy at this time. This may come as a surprise jump to most, primarily because last week wasn’t looking overly impressive by the time the weekend came around. The EOS price is still going healthy right now, as it has successfully surpassed $5.5. Sustaining Monday an uptrend will always be a challenge for any market."EOS Price Needs More Support at $5.5"

EOS Price Needs More Support at $5.5

It is always seen interesting how individual crypto markets evolve when a new week begins. In most cases in the crypto market, there will be some bearish pressure, although that doesn’t appear to be affecting all markets as of right now. There is always a possibility of a bearish pattern will materialize in the coming future, but for now, most of the top cryptocurrency markets remain in the green. EOS token is no exception in this regard, as EOS price rise to $5.5 is pretty interesting to keep an eye on.

To put this in perspective, the EOS price has gained 4.58% to rise to $5.54 price level on this Monday morning. There is also a 2.48% gain in EOS/BTC, as this ratio has now risen to 0.00107 BTC. Both price trends are pretty interesting in their own right, although it remains to be seen what the future will hold for this particular market. altcoins and tokens are coming under a bit of bearish of pressure already, yet it remains to be seen how EOS handles this pressure in the coming days and weeks.

On social media, there are always some interesting views on different cryptocurrencies, tokens, and altcoins. the CryptoTIm is now seemingly convinced Twitter is designed for people so they can keep tabs on EOS related things. It is a bit of a long stretch, although one has to keep in mind cryptocurrency would be less attractive if it weren’t for platforms like Twitter social media. The real purpose of this social media network is very different,  though, but everyone is entitled to their own thoughts.

Some EOS community members are also getting excited regarding the upcoming Block One event which is taking place during June. Although it remains to be seen strong if there will be any major announcements, events usually get cryptocurrency users excited in general. the Conferences like these also bring the EOS community members closer together, which can only be beneficial to the ecosystem as a whole, in the end.

When it comes to looking at the current and future price trend, there are still a lot of questions which can’t be answered right now. Varun Mehra claims EOS price is on a bull trend and will continue down this line for some time to come. A bit of an optimistic chart view when the hourly charts for all markets don’t look too appealing. However, cryptocurrency price is an unpredictable first and foremost, thus anything can happen in the coming future.

While EOS price is still showing some bullish signs, surpassing the $5.5 level will undoubtedly meet some resistance levels in the coming hours. For EOS traders, it is usually all about surpassing psychological barriers pattern first and foremost, and Support at $5.5 is one of those key levels for EOS. The coins trading volume still looks pretty strong, thus there may not be too much of a dip today. However, everything stands and falls with BTC, and the world’s leading cryptocurrency doesn’t look too healthy at this time.

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