It appears that the initial panic that had engulfed all markets without exception has passed being replaced by the relative stability, or at least a lack of jaw-dropping volatility that we saw in mid-March. This period of relative quietness has also offered an opportunity to take a breather, analyze the bigger picture and assess the macro levels that began forming on cryptocurrency markets - EOS in particular - after this cryptocurrency crashed through all possible support levels to arrive at the three-year low at $1.35.
Market collapse as a part of a downtrend
Nevertheless, once the price has bounced off the bottom - or an interim bottom, if the situation on the global markets keeps worsening - and made a partial recovery, traders must have realized that the notorious downfall turned out to be just another lower low of a downtrend that stems from the massive bull rally of 2019.
1-week EOS/USDT chart
It is evident from this weekly chart that the bottom at $1.35 turned out to be an accurate lower low that falls perfectly in line with the macro downtrend and should have been anticipated by the more seasoned traders.