EOS price analysis 22 May 2019; it’s all about the support now

The EOS is currently in a limbo of uncertainty. There are no clear indications that there’s going to be a bull market, neither are there indications about a bear.

Although it did have a major rush towards the $6.3 price point within the last couple of hours, there is still very little hope that it will be able to break the resistance levels.

The EOS was predicted to be one of the best choices for short-term trades, and it has proven to be exactly that. Most people that bought EOS in the morning are now enjoying a 3% growth across the board. But troubling times are ahead.

EOS price analysis 22 may 2019

EOS chart by TradingView

The current resistance levels are at $6.60 and $7.0, should the first resistance level be broken, then a bullish trend is guaranteed to form and continue until it surpasses $7.0.

Although it may sound smart to enter the market right now, it’s important to note that there is no safety about the coin falling flat down to its support levels.

Tonight is believed to feature a major bearish market for the Bitcoin, as it failed to surpass the $8,000 resistance level many times, therefore investors are losing hope on other coins as well.

Should EOS go below the $6.0 support level, it should be a clear indication for everyone that the bearish sentiment has started. Once it starts, it’s believed to either freeze the market in place or drag it down as low as $5.8.

Judging by the fact that there was a small bull rush a couple of hours ago, the bearish trend seems much more likely.

If investing in EOS, it’s best to wait out the night and simply HODL on the coins you have now.

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