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EOS Token is Approaching Its 52-Week Low: What’s Next?


cryptoknowmics.com 29 May 2022 04:42, UTC
  
Reading time: ~2 m

EOS is one of the most successful Initial Coin Offerings (ICO) in cryptocurrency history. It came into existence during the crypto bubble of late December 2017 and January 2018. It was launched on January 31st, 2018. At the time of writing, the price of EOS is $1.22. EOS has decreased by 3.65% in the past 24 hours. This present price of EOS token is close to its 52-week low price of $1.13. The recent crypto winter has made the price of EOS show a bearish trend. In the past 24 hours, the trading volume in EOS has decreased by 0.51%. This shows that there is a low buying activity on the EOS blockchain. Irrespective of this present performance of EOS, investors are still positive that the price of EOS could surge again. The price history of EOS has not been good in recent months. In the past 7 days, the price history of EOS shows that it attained a minimum and maximum price of $1.19 and $1.43 respectively.

30 Days And 90 Days Price History of EOS

The price of EOS in the past 30 days is within a 30 days lowest price of $1.13 and a 30 days highest price of $2.37. The 90 days price history of EOS has a 90-day lowest price of $1.13 and a 90-day highest price of $3.14 according to CoinMarketCap.

EOS Price Prediction

From the EOS price prediction chart above, showing the resistance and support levels, we can deduce the following:

  • Since the buyer's pressure is reducing, the price of EOS has a high probability of hitting the present 52 weeks low price of $1.13 and falling further.
  • Major news on upgrades and new developments within the EOS blockchain, might reverse the present bearish trend, and push EOS to an upward trend. This could make EOS break its $1.86 resistance1 level, and surge further to $2.31 at the resistance2 level.
  • Due to possible price actions, the price of EOS could consolidate for some time before continuing the bullish trend to $2.76 at the resistance3 level, or reverse to the resistance1 level.

EOS Technical analysis

Source: https://www.tradingview.com/x/pvbQZ5oE/ The relative strength index (RSI) value of EOS from the technical analysis chart above is 32.98. This shows that EOS is presently having a weak trend since the value lies between 30 and 50. However, if buyers do not intervene soon, EOS could reach the oversold reach of 30, which will make the price plummet further.

Conclusion

With the present price of EOS token at $1.22, it is possible that it will break its 52 weeks low value of $1.13 soon. This is because of low buyer activities.


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