EOS May Recover to $1.00 Still Looking Down
EOS has experienced a decline of 9.4% this week, falling to $0.917. The token faced significant downward pressure, particularly on Tuesday when it reached a monthly low of $0.878. This decline can be attributed to the overall weakness in the market, with Bitcoin (BTC) also losing 7.5% to trade at $64,187.
Notably, EOS seems to be closely following the movements of Bitcoin, mirroring its price fluctuations. The token breached its uptrend support level at $1.000 and subsequently retested it, suggesting potential further downside. As such, there is a possibility for EOS to decline further towards the uptrend support at $0.800.
It's worth noting that there have been no significant internal developments or news to support EOS, further contributing to its downward trajectory.
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