EOS has managed to surpass one of the key resistance levels within this week and today is no different. Although most of the day was spent going up and down without a clear consensus in sight, it is seeming like the coin will remain on the $6 mark and continue into tomorrow.
However, there is no guarantee about the increase as more and more bulls are starting to turn into bears and weighing heavily on the coin. The biggest resistance that the price met within the week was $5.58 and surpassed it without too many complications. Now it’s hard to determine whether or not $6 is also forming into a resistance level as the coin keeps on hovering between the $5.9 and $6.1 price points.
Despite the bears flooding the market, EOS and Ethereum have seen higher levels of buying pressure with the weekly RSI and MACD trading. Despite the relatively stable performance from EOS, it is still not able to keep up with the gains of bitcoin, BNB, and XRP for that matter. It looks more like the coin is being left behind in all of the hype.
More and more people are flooding XRP platforms due to today’s amazing performance. And every cent invested in XRP is a cent taken away from EOS. It is most likely that EOS will drop back down to the $5.9 mark by the end of the week or even by the end of tomorrow and form yet another resistance level.
Although EOS has increased by roughly 50% within the week, it is still very hard to believe that this will keep up.