EOS May Shoot Out in Either Direction Soon
EOS prices dropped by 2.5% to $0.57 per coin since the beginning of the week after an unsuccessful effort to hold above the support at $0.60. The coin signals that the extremely narrow consolidation would be over soon.
The same type of consolidation in the first half of August resulted in a 30% drop of EOS prices to $0.51 per coin. This doesn’t meant that the story will be repeated this time. The coin has enough examples to shoot out of the consolidation in either direction. The most intriguing is that this consolidation is extremely narrow, which may signal a strong move out. This could be similar to October 2020, when EOS prices first lost 15% and latter jumped by 73%.
This is not certain too. But it is likely that the coin could lose about 13% to $0.50 first as prices are below the support of $0.60 per coin. Further developments should be closely monitored amid the nearing end of the crypto winter.
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