by Eliman Dambell
Monday noticed eos stay within the inexperienced, regardless of the most recent pink wave in cryptocurrency markets. At present’s rally sees the token transfer virtually 20% increased within the final seven days. Stream, however, prolonged its current declines and is now down by virtually 30% in the identical interval.
EOS was buying and selling largely increased on Monday, because the token remained near a three-month excessive.
Final Wednesday noticed EOS/USD rise to a excessive of $1.64, which was its strongest level since Could 11.
Since then, market uncertainty has heightened, with the token fallen 20 cents beneath that stage, at $1.44, on Sunday.
Nonetheless, to start out the week, bullish sentiment returned, with EOS hitting a excessive of $1.58, which is marginally beneath a ceiling of $1.60.
This peak noticed the relative energy index (RSI) additionally hit a resistance level, colliding with its 65.45 threshold.
Because of this, earlier positive aspects have eased, as bulls opted to safe income by liquidating positions.
EOS is monitoring at $1.52 as of writing.
However, circulate (FLOW) was on the other aspect of the spectrum, as costs prolonged current declines.
Following a excessive of $2.20 throughout Sunday’s session, FLOW/USD fell to a low of $2.03 to start out the week.
At present’s drop sees the token hit its lowest level since August 4, when costs have been buying and selling at a low of $1.86.
Total, FLOW is down by almost 26% within the final week, and this comes after an prolonged interval of sell-offs.
Costs have now moved decrease for eleven of the final twelve periods, commencing after a false breakout of the $3.20 resistance stage.
The ten-day (pink) and 25-day (blue) shifting averages at the moment are on the cusp of a downward cross, which might see bearish sentiment stay for weeks to return.
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Do you anticipate circulate to fall to a ground of $1.80 this week? Tell us your ideas within the feedback.
Eliman brings a eclectic standpoint to market evaluation, having labored as a brokerage director, retail buying and selling educator, and market commentator in Crypto, Shares and FX.
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