EOS slips under $ 4 again

EOS has flirted with the $ 4.00 region in the last few days, but the bulls were unable to raise enough rally to conveniently press them over this level.

The cryptocurrency market is still in a declining cycle that goes back to May. In view of the declining mood, Bitcoin is still under $ 35,000, while it is struggling to exceed the resistance mark of $ 40,000.

eos was once one of the top ten cryptocurrencies in the world. However, it has lost its place in recent months when other crypto projects were accepted and market capitalization increased. EOS is now in 28th place and threatens to be overhauled by Shiba Inu-token.

The poor performance of EOS comes from the state of Wyoming despite the approval of the first decentralized autonomic organization (DAO). The milestone was not enough to keep the EOS rally over the $ 4 mark.

EOS price view

The EOS/USD couple had not managed to reach the 5 dollar mark a few days ago after it had broken $ 4.3 this weekend. The announcement in Wyoming provided the rally at the weekend.

Since EOS now falls below $ 4, the EOS/USD 4-hour chart indicates that the cryptocurrency could record further losses in the next few hours. If the current market conditions continue to apply, the bulls would have to defend the resistance point of $ 3.30 in the coming hours or days.

eos/USD chart. Source: Coinlyze

At the moment, EOS under his 100-day simple moving average (SMA) could be $ 3.84 after it has lost a level of support for its 100-day exponential moving average ($ 4.0558). If EOS sinks under the 100-day SMA, the small level of support will be focused on USD 3.59 and the head at $ 3.30.

If the bulls regain control of the market, the EOS/USD couple could exceed the 4.00 mark and try to reach $ 4.300, its 7-day high. EOS could start a serious rally in the direction of the 5-dollar region if it receives help from the wider cryptocurrency market.