Due to the current global circumstances, most of the investors in every market are experiencing FOMO. This sentiment was highly anticipated to pull the investors to the market, gradually spreading the buying sentiment.
However, perhaps this is not enough to bring the bulls back to the market. Especially, altcoins are facing a stronger bearish pull right now as they lack any strong bullish vibe.
EOS Price Analysis
At 12:00 UTC yesterday, EOS coin managed to climb above $2.81 from its initial price level of $2.76. Then the currency had to face bears as it saw rejection, and the price path took a U-turn with a negative approach.
EOS price took a free fall just before it bottomed to $2.65. An initial price rebound drifted the coin above the 50% Fib level for once. Since then, the price path has been witnessing a fading recovery.
The currency has just formed two bullish candles, and the MACD indicator may soon have a bullish crossover. Meanwhile, the Bollinger bands do not show any signs of volatility. Notably, the EOS price is trading well below the EMA line.
