EOS Price Analysis: Down 20%, Turns Sell On Rallies

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EOS price failed to hold the key $5.420 support area and declined heavily against the US Dollar. The price is down more than 20% and it even broke the $4.800 support area. There is a major bearish trend line forming with resistance near $5.620 on the 4-hours chart of the EOS/USD pair (data feed from Binance). The pair could correct higher, but the $5.000 and $5.200 levels are likely to act as hurdles. EOS price is currently under a lot of pressure against the US Dollar and bitcoin. The price may continue to decline and it could even test the $4.000 support in the near term. EOS Price Analysis This week, there a strong rise in bitcoin, but Ethereum, ripple, litecoin and EOS struggled against the US Dollar. EOS price mostly traded in a range below the $6.400 and $6.200 resistance levels. Recently, there was a sharp decline in BTC/USD…

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