EOS is Likely to Continue Down to $0.6000
EOS is dropping by 6.4% to $0.6820 this week. The decline was even bigger on Tuesday when prices dived by 12.1% to $0.6420. Some general stabilization in the crypto market allowed EOS to recover some losses. Prices are likely to retest the support at $0.7000 to continue down towards $0.6000. There are no obvious reasons for an upside scenario. Investors are discussing a steady decline of EOS TVL after it reached a maximum of $108 million in mid-November 2023. The current TVL is at $79.5 million, which points towards a degradation of interest in the altcoin.
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