Even tho’ most of the cryptocurrencies are still suffering from bearish momentum right now, it remains to be seen if there is any positive momentum on the horizon. For the EOS price, things are not looking all that bad compared to most of the other cryptocurrencies. Ter fact, it seems the EOS price is stabilizing above $6, which would be a milestone te its own right.
EOS Price Bucks the Negative Trend
With virtually all cryptocurrency markets te the crimson merienda again, it is all the more remarkable to see the EOS price going up spil of right now. Even however it remains to be seen how long this trend will last, the current sentiment ter the EOS community seems rather positive. It is uncanny how some altcoins can successfully buck the overall market trend, even however it may just be geschreven.
To waterput this into perspective, the EOS price has risen by 6.54% te the past 24 hours. That te itself is pretty positive, especially with Bitcoin and Ethereum going down spil of right now. With this puny build up, the EOS price has surpassed the $6 mark merienda again. Compared to its all-time high of almost $17 a few months ago, there is still a lotsbestemming of work to be done until the market looks healthy again.
Even so, EOS is leisurely gaining on both Bitcoin and Ethereum spil of right now. Ter fact, this popular altcoin has gained Ten.61% overheen Bitcoin and a shocking 11.13% overheen Ethereum. While it is not uncommon for altcoins to note some big gains overheen both of thesis top currencies, it does go to voorstelling Ethereum will face a lotsbestemming more hardship te the months to come compared to Bitcoin. For speculators, that is one worrisome trend they need to keep an eye on, for evident reasons.
On the trading volume vuurlijn, EOS makes virtually all other currencies look bad. Its volume of just under $623.3m is quiebro awesome, especially when considering how all markets have to overeenkomst with a decline te trading volume for several weeks now. For EOS, this volume is more than sufficient to keep the momentum going for some time to come, albeit the market can still turn bearish at any given ogenblik.
It seems South Korea is very much intent on pumping the EOS price right now. Bithumb and Upbit are predominant the charts and combine for overheen 43% of all trades. Especially the volume on Bithumb is well out of proportion compared to the surplus, albeit Bitfinex is gaining on Upbit spil of right now. How all of this will play out, remains to be determined
For the time being, the EOS price is successfully bucking the market sentiment. Maintaining this unusual situation will not be effortless, especially if the Bitcoin price proceeds to decline further. While EOS is gaining on Bitcoin right now, a bit more pressure on BTC will send all cryptocurrencies ter a downward spiral merienda again.