Yesterday we reported on an imminent climb for EOS, suggesting that the currency would hit $8, come this morning we are humbled to see that EOS is currently valued at $8.34, up 31.05% at the time of writing.
Our initial suspicions that EOS has recovered from the March tumble now seem to have been confirmed, with EOS continuing to move upwards into the latter half of this week.
This is becoming a very important currency to watch, EOS currently sits in 5th place in terms of it’s market capitalisation, according to coinmarketcap.com and, in a market where rivals Bitcoin are actually down 0.22%* and near neighbours Ethereum only up 1.22%*, this is showing some really solid progression for EOS, and the team behind the currency.
*at the time of writing
What next for EOS?
Well, as we suggested yesterday, displaying an ability to remain above the $8 threshold will be a really key step in the progression of EOS. £8 is by no means a limit, but it does resonate back to the last promising performance we have seen from EOS, just prior to the March drought.
By reaching $8, EOS is almost half way back to it’s peak value as recorded in January this year as a result of the cryptocurrency boom. Not many currencies have managed to regain half of their value at this point in the year, therefore this provides a sound scope for how EOS might progress.
What we should see over the coming days now is a maintenance, around the $8 mark. We should expect some declines but so long as these are counterbalanced by regular gains, an average of $8 is easily obtainable.
Another scenario, an ideal one at that, would be that EOS continues its 30% climb, surpassing $8, $9 and maybe even reaching $10. This would be an incredible feat and, in all honesty, may not be as unrealistic as it sounds, given the indication that EOS is now out of the woods with regards to the March downfall.
The final and bleaker outlook might be that this is just a minor blip and that EOS will start to decline into this afternoon, back below $8. This would not be detrimental however it would be quite an inconvenience for those investors who have something to be excited about this morning.
Keep watching EOS, it is looking to be putting in a cracking performance at the moment and hopefully, this good streak will continue, we will have to wait and see.