EOS is under selling pressure from the market bulls. Is the pair vulnerable to further losses? What does the following 18 June EOSUSD Price Technical Prediction reveal?
18 June, GKFX – EOSUSD is changing hands at $10.12, off the recent low reached on June 13 at $9.08. The coin is down 3.7% on daily basis, and down 1.4% since the start of the day. EOS market value is registered at $9.2B with average daily trading volumes $500M, three times lower than on June 14.
Bug in protocol caused EOS network freeze
Meanwhile, EOS network froze for several hours on weekend due to a bug in its consensus protocol. EOS community broke into panic mode as it is not clear whether the ecosystem will be able to support distributed applications and provide fast and secure performance. Following the glitch, Block.
One released a patch that restored the network functionality.
18 June EOSUSD Price Technical Prediction
Looking technically, EOS/USD is dangerously close to psychological $10.00 handle. Once it is cleared, the downside momentum may take the price towards $9.08 (June 13 low) and $8.03 (78.6$ Fibo).
On the upside, the local resistance is created by 10.50 (a cluster of 50 and 100-SMA, hourly chart), followed by $11.22 (61.8% Fibo)
EOSUSD, the hourly chart
This article 18 June EOSUSD Price Technical Prediction was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.