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<a href="https://bitcoinworld.co.in/eos-price-surges-despite-negative-sentiment-accumulation-spurs-growth/" title="EOS Price Surges Despite Negative Sentiment: Accumulation Spurs Growth" rel="nofollow"></a>
EOS price has experienced growth in the past week, with heavy accumulation contributing to this upward trend. Despite this, general market sentiment surrounding EOS remains negative. 
Closing Q2 with the highest intraday price gain since February, EOS has continued its upward trajectory, resulting in a 7% increase in value over the past seven days, as reported by CoinMarketCap. On June 30, EOS reached a peak of $0.7439, marking a 10% intraday surge. At the time of writing, it was trading at $0.7676, reflecting a 3% increase from that point. 
Analyzing EOS’ price performance on a daily chart, it becomes evident that token holders have been accumulating EOS since June 20. This significant buying pressure has placed EOS bulls back in control of the market, initiating a new bull cycle. 
The Moving Average Convergence/Divergence (MACD) indicator reveals that the MACD line has been consistently trending above the signal line since June 22. This bullish crossover, where the short-term moving average crosses above the longer-term moving average, suggests increasing positive momentum in the market. Traders may interpret this as a potential buying opportunity or a signal to maintain existing long positions. 
Furthermore, momentum indicators, such as the Money Flow Index (MFI) and Relative Strength Index (RSI), indicate buying pressure exceeding token distribution. EOS’ MFI currently sits in the overbought position at 87.53, while the RSI stands at 54.44. If this momentum persists in the coming days, it could potentially drive further price growth for EOS. 
The altcoin’s Chaikin Money Flow (CMF) also indicates an uptrend, with a positive value of 0.19. This suggests that traders and investors are providing the liquidity necessary to fuel EOS’ price increase. 
However, despite the recent price growth, an on-chain analysis of EOS’ weighted sentiment reveals that market sentiment has remained negative since the beginning of the month. Santiment data indicates that EOS’ weighted sentiment currently stands at -0.769. This negativity is reflected in the decrease in open interest since the start of the month, highlighting traders’ skepticism toward opening new trade positions. 
In summary, while EOS has seen positive price growth in the past week due to heavy accumulation and bullish indicators, general market sentiment remains negative, as traders display caution and hesitation in opening new positions. 
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EOS Price Surges Despite Negative Sentiment: Accumulation Spurs Growth

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