<ul class="list-ic vertical">
 <li><span>1</span> <a>EOS price has reverted to its make or break zone of $0.700.</a></li>
 <li><span>2</span> <a>Technical indicators suggest further selloff lies ahead.</a></li>
</ul>
<p>The EOS price dragged below the key support zone of $0.800 and a breakdown was recorded on the charts. As soon as the upward trendline zone broke, the sellers went aggressive and sharp bearish marubozu candlesticks were noted this week. Furthermore, the token has delivered distribution from the supply zone of $1.30 and regressed over 38% in the last sessions. The price action displays the short additions and selling pressure.</p>
<p>At press time, the EOS token (EOS) price traded at $0.7300 with an intraday drop of 1.97%, reflecting bearishness on the charts. It has a monthly return ratio of -28.12% and -39.28% on a yearly basis. The pair of EOS/BTC is at 0.0000117 BTC, and the market cap is $722.18 Million. Analysts are bearish and suggest that the EOS token may continue to ride on a bearish track and will extend the drop.</p>
<h2 class="wp-block-heading" id="strong-eos-price-to-volume-profile-on-daily-timeframe-strong"><strong>EOS Price To Volume Profile On Daily Timeframe</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (EOS), Volume (EOS)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=eos&amp;pt=EOS&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_PoS1E_KmDgFz&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22line%22%7D" scrolling="no"></iframe>
<p>Per the daily charts, the price volume profile of EOS crypto showcases a sharp profit booking in the recent sessions. The bear cartel looked aggressive and bulls are trapped at the highs. Amidst the range breakout and a much awaited bull run last month, the buyers could not hold the gains at the highs and faced sharp rejection The intraday trading volume dropped over 41.38% to $120.53 Million.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-weighted-sentiment-outlook-strong"><strong>Price Volatility &amp; Weighted Sentiment Outlook</strong></h3> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (EOS), Weighted sentiment (Total) (EOS)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=eos&amp;pt=EOS&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_PoS1E_KmDgFz&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Following the price drop, the token chart shows a sharp intraday spike in the price volatility curve. The <a href="https://www.thecoinrepublic.com/2024/04/16/pixel-crypto-price-analysis-whats-next-in-the-pixels-price/" target="_blank" rel="noopener noreferrer nofollow">price</a> volatility curve noted a decline over 69.90% to 0.011. However, the weighted sentiment looks neutral and stayed near the midline around -0.293.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-x-followers-overview-strong"><strong>Social Dominance &amp; X Followers Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (EOS), Twitter Followers 7d (EOS)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=eos&amp;pt=EOS&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_PoS1E_KmDgFz&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Btwitter_followers_7d&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The social dominance data reflects a rise of over 51.40% to 0.061%, indicating a positive stance in the discussion reports. Conversely, the X follower’s data replicated a decline of over 62.20% to -286.</p>
<h4 class="wp-block-heading"><strong>Development Activity and Total Open Interest Insights</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (EOS), Total Open Interest in USD (EOS)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=eos&amp;pt=EOS&amp;df=2023-10-17T18%3A29%3A59.977Z&amp;dt=2024-04-17T18%3A29%3A59.977Z&amp;sat=shchcfg_PoS1E_KmDgFz&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Btotal_open_interest&amp;wax=0%3B1&amp;wc=%238358FF%3B%23FF5B5B&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The development data witnessed a significant increase over 14.67% and reached the midline around 0.214 this week, showing a neutral outlook. However, the derivative data signifies sharp long unwinding, reflecting profit booking; the open interest sharply fell over 74.79% to $36.25 Million this week.</p>
<p>Per the Fib levels, the EOS price has slipped below its 23.6% zone and reached the bearish trajectory. Similarly, the RSI curve stayed in the oversold region, and a bearish crossover was noted on the charts.</p>
<p>The total supply of the EOS token is 1.07 Billion, whereas the volume-to-market cap ratio is 0.168, and it is ranked 106 in terms of market cap in the global crypto market.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The EOS price has dragged below its key 200 day EMA support EMA mark and is directing bearishness on the charts. Moreover, the price action signifies seller dominance and lower low swings were spotted.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.7200 and $0.7000</p>
<p><strong>Resistance Levels:</strong> $0.7350 and $0.7500</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.</p>

EOS Looks Bearish: Will Selloff Persist Or Is A Rebound Possible?

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Thecoinrepublic.com

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