The response from EOS on the recent BTC surge wasn’t quite up to the expectations of the market, however, it did manage to snatch some quick gains before the correction phase began.
The highest the coin managed to reach was during the spike’s peak at $7.63 but has not corrected itself back to $7.25.
The coin is currently forming a major support level at $7.08 but it’s highly unlikely that it will get as bad as the bears are expecting.
The BTC surge is still underway, which helps major altcoins maintain their positions for now, and according to the Winklevoss predictions, BTC still has a way to go towards $15,000 before the end of this Summer.
So long as EOS is able to maintain its position above the $7 price point it will be considered in an upwards trend, however, some resistance should be expected at the $7.5 and the $7.6 levels.
Should the $7.5 level be broken the coin has a clear road towards $8 price point as long as the BTC momentum is maintained and all other major coins follow the trend.
At the moment, very little is dependant on EOS’s trading volume as it seems the BTC hype has hi-jacked the market once again.