Eos Crypto Takes a Hit As The Markets Turn Red, Reversal Imminent

Eos Crypto Takes a Hit As The Markets Turn Red; Unfortunately, many of us will wake up to find that most assets have experienced losses this morning, with the overall cryptocurrency market seeing close to $5 billion deleted from its market capitalization today.

Almost the entire market appears to be in disarray as practically all major assets experience losses of at least 2.5% today, with some assets, including Bitcoin Gold (BTG) losing more than 10% in a flash crash.

EOS Crypto appears to be losing almost 8% of its value

EOS Crypto appears to be one of the worst affected cryptocurrencies, losing almost 8% of its value in the last 24 hours to reach a new value of just $3.27. EOS has performed similarly poorly against Bitcoin (BTC) during this time, losing 5.5% against BTC.

eos crypto

It doesn’t appear that the bearish trend will continue, however, as EOS has now entered into a relatively bullish ascending channel, and has recovered much of the value lost during the earlier flash dump. If it continues on this trend, EOS could be back trading above $3.45 by March 05, though its support can currently be described as flimsy at best right now.

Despite its recent losses, EOS appears to be in a strong position moving forward, with EOS founder Daniel Larimer hinting that an updated roadmap may be on the way, which will likely provide clues on how EOS will be shaped in the coming months and years.

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