EOS price analysis 2 July 2019; EOS to decline further during BTC correction

Nearly every coin is going through a serious correction right now, and EOS is in the thick of it.

After a slight uptick at the $5.599 support levels towards a week’s high at $6.127, the coin is yet again in a bearish zone with very little support.

EOS is sending concerning messages as it keeps on failing to retain the support levels below the $6.0 mark but may fall even further after the BTC correction that everybody is anticipating.

The price is at $5.811 at the moment of writing this article.

EOS price chart

EOS chart by Trading View

The price of EOS is poised to continue falling due to the upcoming BTC dominance once again.

Traders are now anticipating Bitcoin to dip below the $10,000 resistance level and initiate yet another bullish run towards $18,000 and maybe even test the all-time high of $20,000 in the nearest future.

However, it’s more likely to see BTC reach $15,000 by the end of the next week, while other coins either remain frozen or continue their downfall on the charts

EOS is no exception here, it has very little room for growth during the BTC dominance but will have much more room during the altcoin season.

As it stands right now, no major gains should be expected from EOS in the short-term, but once the BTC dominance starts again, it will be a perfect time to stock up.