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EOS price: what's going on?

May 16, 2018


EOS (EOS.X) is trading almost 7% down at the time of this writing. What is happening and what is the EOS price prediction? Last week the CFO of Commonwealth Bank of Australia Rob Jesudason reportedly signed on with the firm of the founders of the world’s fifth largest cryptocurrency in the market today, Block.one. Block.one is a private company that has developed both the EOS token and the blockchain technology behind it. The market failed to respond to this news. Instead, the cryptocurrency price dropped from $18 to about $13 where it's trading now.

EOS is correcting from its recent rally, and it yet has to find support. Technical indicators show that a 50% retracement is likely required to instigate new buy orders. A bounce off this level could take EOS to a new peak. If the price breaks the support level, traders are likely to initiate short orders, which could lead to a further decline. Given the falling knife pattern of EOS price from the last 7 days, it may be just more prudent to adopt the 'wait and see' approach, until the cryptocurrency finds a new bottom. For the latest news about and price of EOS, visit Finstead and type "EOS.X news" / "EOS.X price".

EOS price: what's going on?  

Finstead Bites Read our insightful, bite-sized news about the stock market. Get your investment scoop quickly and efficiently.

EOS price: what's going on?  

Finstead Bites Read our insightful, bite-sized news about the stock market. Get your investment scoop quickly and efficiently.

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