EOS, another currency making huge gains of late has been on our radar for a number of reasons. First of all, it ranks 6th on coinmarketcap.com with a current market cap of $7,268,386,057 and at the time of writing, a value of $9.15, climbing at 8.82%.
Interestingly, near neighbours Bitcoin, Ethereum and Ripple are all climbing at least 10% faster than EOS at the moment, suggesting that maybe EOS could be starting to lose a grip on its incline.
As we wrote yesterday, by reaching $8, EOS showed signs of great strength and a recovery of almost 50% from its peak at the start of 2018. Through the day and this morning, EOS exceeded that mark and hit the $9.00 threshold, maintaining that value for some time now, moving way past the ‘half way there point’ and allowing EOS to close in on it’s historical peaks.
Now this isn’t to say that EOS is going to crash by any means and overall 8% gains are not bad in the grand scheme of things, but, when the rest of the markets are swinging into double figures, it does pose questions as to why EOS is looking like the first currency to calm back down.
Overall, EOS sort of set the trend yesterday, smashing expectations and reaching gains of 30% before the rest of the market so perhaps this time round, EOS has been the trend setter, taking the title from the queen of cryptocurrency market trends, Bitcoin.
If EOS can maintain it’s standings at around $9.00 then in time, the next predicted bull run should take its value straight over $10.00 and beyond, the concern here is that if EOS is indeed starting to slip and corrects itself, it could stoop back down to below $8.00 which really does seem to be the recovery point that EOS needs to remain at if it is going to be able to take advantage of the next market jump.
There is nothing to suggest that this will happen of course, we are just simply pointing out which barriers EOS needs to remain on the right side of.
Hopefully the slight dip in activity from EOS subsides and it breaches the $10.00 mark within this surge, that would be colossal for the currency and would provide a great deal of excitement for investors going into the weekend. Things still look very promising for EOS, the next few days are crucial for ensuring that the currency is back on track, lets see how it goes.
As ever, this is one to keep a close eye on, is EOS the new trend-setter?