Bitcoin’s rising market dominance meant that Bitcoin was still outperforming most altcoins, with the same climbing to 69.75%, at press time. EOS settled into a phase of consolidation above the $2.6-support level after the rejection at $2.72. Finally, Basic Attention Token‘s charts suggested that it was on a downtrend, while NEM consolidated under a level of resistance.
Source: EOS/USDT on TradingView
The cryptocurrency’s price straddled the $2.59-level of support over the last few days after an unconvincing bounce followed a dip to $1.99. Unconvincing because EOS was trading at $3.35 just five days ago, and the sharp drop of nearly 22%, despite the bounce, showed that momentum was on the side of bears.
The MACD formed a bullish crossover, but it was still moving under the neutral line. The trading volume was minimal for Basic Attention Token [BAT].
At the time of writing, the price appeared to dive under the level of support. A session close beneath and retest to confirm the S/R flip of the same level would suggest a downside for EOS in the next 24 to 48 hours.