Nothing Can Keep EOS Down, As It Attracts Further Attention by the Industry
The EOS coin joined the rally in the cryptocurrency market pretty late, in the last week of March, as it increased from $3.50 to nearly $8. In April we saw a deep retreat in the cryptocurrency market, which sent EOS down to $4.50s.
But since the last week of April, EOS/USD turned out to be one of the most bullish cryptos together with Ethereum and Litecoin, all of which continue to make new highs. EOS/USD surged to $13.20s a week ago which was a new record high, but retreated back down.
Te price fell around $5 to $8.209s, piercing the 50 SMA (yellow) on the H4 chart, but it bounced back again today. In fact, only EOS is surging today, while other cryptos are only making modest gains after the decline yesterday.
Now EOS is trading around $12, with the market cap approaching $10 billion. EOS is attracting more attention in the industry as we mentioned in the title, with Block.one securing funding for $10B EOS-based crypto exchange platform.
EOS is also experiencing an increase in new applications developed with its flexible lattice patent, which are helping keep it bullish. So, the bullish momentum continues in EOS. We missed the chance to buy the pullback, but are following the price action to see if there will be another retreat so we can go long.
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