Things certainly don’t look good for EOS on the macro level because the price of the coin keeps on sloping down in a dull downtrend that was only exacerbated by the recent upsurge of Bitcoin and its dominance. And even on the year-to-date chart, it’s obvious that the sellers had no problem pushing the price to the downside after the summer rally.
YTD EOS chart
After the rally peaked at $3.84, the correction occurred and resulted in a return trip to the multi-month support area at $2.3. However, this line of support is now under threat of being broken to the downside since over the past couple of weeks, EOS has been doing nothing but ranging or slowly sliding down.
Such a passive behavior on the part of the bulls has obviously had a detrimental effect on coin’s performance stats from the past year that are painfully red:
- -27.1% - value depreciation against USD;
- -57.3% - a serious fall in the Bitcoin (BTC) market;
- -70.1 - a literal crash against Ethereum (ETH);
- 145.3% - EOS’s current all-time ROI, though it might be reduced significantly if the buyers won’t flood into this market.