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EOS (EOS), despite reporting significant rallies over the past week

Since September last year, EOS [EOS )] has been in a huge downtrend. Although the coin has seen some movement, the overall outlook has been downhill since then. However, there was some hope that the recent rally could lead to a sustained climb. This did not happen. Here are some highlights: At press time, EOS…

Since September last year, EOS [EOS )] has been in a huge downtrend. Although the coin has seen some movement, the overall outlook has been downhill since then. However, there was some hope that the recent rally could lead to a sustained climb. This did not happen. Here are some highlights:

  • At press time, EOS (EOS) had fallen by nearly 8% over the last 24 hours, trading at around $2. 38

  • The coin has however rallied by nearly 40% over the last two weeks.

  • Despite the surge in demand, key indicators indicate that EOS (EOS), remains in a bear market.

Data Source: Tradingview.com

EOS (EOS) – when will the downtrend break?

To see a definitive breakout, EOS (EOS), will need to show sustained gains over a longer time period. The crucial resistance zone appears to be the $3 mark. EOS (EOS), however, did not make any gains past this mark late last year.

Some analysts believe that EOS (EOS), if it reaches $3, then it will make a decisive move to become a bull market. The RSI readings are also neutral, suggesting enough potential for the token’s surge.

At the time of writing, EOS (EOS) was trading at $2.62. It is possible to get to $3 but it is still a long way off. However, recent rallies suggest that this is possible.

Why you should buy EOS (EOS)?

There are hundreds of crypto assets that must be in your portfolio, and EOS (EOS) is one of them. This platform claims to be the best DAPP development suite.

It provides developers with the tools to develop and deploy decentralised apps. EOS (EOS), currently has a market capitalization of approximately $2.3 billion. It is a good option to unlock long-term value.

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