EOS investors have been left disappointed once again as EOS drops into single figures for the second time this month. Since EOS reached its all time high price exceeding $22.00 in April 2018, EOS investors have remained very excited about the future of their investment. Overall, EOS has every chance of hitting $40.00, however, the current bear market, tied in with some problems surrounding the EOS MainNet launch has of course caused a number of issues.
These issues have driven the price of EOS down to a new two monthly low of $9.47 at the time of writing. Likewise, EOS is still in decline, down 9.87%.
What is the forecast for EOS?
EOS will continue to fall, perhaps even right through the weekend and thus, we could expect to see EOS hit the $8.00 region. If this is the case, we hope to see EOS maintain some balance around here, at the very least in order to carry out some damage control to stop it falling any further.
What we should consider, is how EOS performed last time it reached this level. As a matter of fact, the last ‘bull run’ as a part of the mid-April market surge, took off when EOS was valued at around $7.95. When EOS started to climb at this point, we speculated that this could encourage some further gains across the markets, indeed, it did.
EOS seemed to have a ‘Bitcoin’ effect, pulling up its neighbours and allowing the markets to organically rise. Through this, EOS eventually moved up to values exceeding $20.00, flying well past its previous all time high of around $18.00.
What I am trying to say here is that, when EOS starts to make upwards traction, there is a chance it could somehow still have this grip on the market, the grip that allowed it to pull up the rest of the market values back in April. If so, considering its last rise was initiated when EOS sat below $8.00, a move in that direction soon, could kickstart the same momentum.
Of course, this is not investment advice and we are not saying that this really will be the case, however, we should consider it as an option. Indeed, EOS has the potential to climb and, historically it has proven an ability to pull the markets up with it. EOS could once again, kickstart the next bull run. Sadly though, we can never be certain when exactly that will be.