EOS price movement is not much different than the top five cryptocurrencies and the bearish trend prevailing in the market at the time of writing has pulled EOS down from the three dollars ($2.91) mark.
EOS price is still in gains compared to the two and three-quarter dollars ($2.75) on the 18th of October. The price has recovered slowly since then but if EOS fails to find a quick support price can drop further.
The quick dip in the past few hours has shaven off almost fifty-percent (50%) of the lead EOS price chart shows since the 18th of October low point.
EOS price movement: What to expect?
The bulls have allowed EOS to maintain its levels above its support of two dollars ($2.8129) over the past few days. Yet still, the inability to attain a significant rise off the support line is not a positive sign. It indicates that the bulls are in no haste to purchase even at these levels.
In case the bears dominate and cause the price to fall below this support value to a two and a half dollars ($2.4) level, the downward gradient will continue. The next support line is significantly lower at one and a half dollars ($1.55) mark.
The view can only be refuted if the EOS/Dollar pair rise sharply from the existing levels to three dollars ($3.37). Thus, long placement can be held in favor of the EOS chart display and price movement.