Albeit the cryptocurrency markets still suffer from negative momentum, it seems a few coins are trying to buck the trend. So far, the EOS price has managed to increase by 4.52% over the past 24 hours, which is a better result compared to most other currencies in the top 10. Thanks to this gain, the EOS price is now back above $13.2, although it may not remain there for much longer.
The EOS Price Rises Temporarily
Anyone can see today and the next few days will not be easy going for the cryptocurrency industry. With bearish pressure still intensifying and the overall trading volume dropping below $19bn once again, the demand for cryptocurrencies simple isn’t there. This not much of a surprise, as the same pattern has been visible throughout most of 2018 so far. After last year’s crazy bull run, it is only to be expected the coming six to twelve months will be incredibly volatile. So far, that has proven to be exactly the case.
Despite this negative pressure, the EOS price successfully managed to note a small increase in the past 24 hours. It is rather remarkable, considering how most of the markets are still in the dirt and seemingly stuck in sideways trading momentum. Something will need to change fairly soon to overcome this dreadful trading momentum, as things seemingly won’t get any better until that happens.
With this 4.52% EOS price increase, the value is sitting comfortably above $13 once again. It is not necessarily the price point people are looking for, considering how the EOS price hit $18.4 not that long ago. Unfortunately, volatility s the name of the game in the cryptocurrency world, and that situation will remain in place for quite some time to come. EOS also gained 5.34$ over Bitcoin, which is an interesting development when looking at the bigger picture.
With $1.595bn in 24-hour trading volume, EOS remains one of the more popular cryptocurrency markets as of right now. Considering how the overall cryptocurrency trading volume has taken a sharp dip in the past few days, it is all the more remarkable to see EOS remain at this level during this time. There’s no real reason for a dip to speak of, though, but it is still intriguing regardless.
As one would come to expect, there is plenty of trading volume originating from the OKEx exchange. Bithumb and Huobi are also in the top three, which makes for a rather interesting collection. Upbit and Bitfinex round out the top five. This means there are three fiat currency pairs and two SUDT pairs in the top five for EOS. Plenty of capital entering the market right now, which could explain the EOS price rise over the past 24 hours.
Whether or not the EOS price cna remain above $13, remains to be determined. So far, things look somewhat promising but things can always turn around in the world of cryptocurrency. So far, the weekend is not looking all that great when gauging the overall health of the cryptocurrency trading industry, but the day is not over just yet.
via The Merkle https://themerkle.com
May 17, 2018 at 07:09AM
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