EOS Technical Analysis: Total Weakness At Historical Lows

The good old EOS last showed a remarkable growth wave in May 2021. Given the fact that it is quite a voluminous and liquid coin, the EOS price growth from $2 to $11 was a real achievement for this crypto dinosaur. However, given the nature of the coin price fall, this dinosaur has become unneeded. If you compare the EOS fall with other cryptocurrencies – it is weaker than almost all. This is not even about maintaining the trend line of buyers’ channel or local lows in June 2021. The EOS price has tested the lowest global range, which is very close to historical lows. And this fact was not so terrible, if not for the low trading volumes. https://www.tradingview.com/x/rqUIB6yE/ If you look closely at the weekly timeframe, how exactly the EOS price tested the critical range of $2-$2.2. For 3 weeks, buyers are trying to rebound from this liquidity level, but high interest in buying EOS is not visible yet. A similar situation in the EOS market was in March 2020. After a total fall wave, the coin price was in consolidation at historical highs of 9 months. During this time, sellers have repeatedly tested the strength range of $2-$2.2. And only after the completion of this consolidation, the cryptocurrency market saw a great wave of EOS growth. At the moment, this scenario is positive for EOS investors. But, if the price on the big timeframe is fixed below $2-$2.2, we will expect the EOS price to continue falling to $1.65. Technical A...