It is the first time in several days we see small bearish momentum forming in the cryptocurrency markets. Most coins in the top 10 are dealing with small to medium losses over the past 24 hours, which is only to be expected. The EOS price is still going strong as we speak, although this altcoin will not escape the volatility either.
EOS Price Remains Above $11.5
Given all of the positive momentum we have seen throughout the cryptocurrency markets in the past week, it is only normal a brief dip looms overhead. These past seven days have been pretty bullish for all cryptocurrencies, even though it is possible today’s brief dip will be bought up pretty quickly in the next few hours.
For the EOS price, the past week has been pretty solid overall. With the EOS price dropping below $8 briefly earlier this week, it seemed as if we would witness a fair amount of volatility in the wrong direction. However, things turned out alright in the end as the value quickly soared to nearly $12. Over the past 24 hours, there was another 4.18% increase for the EOS price, which should not be overlooked whatsoever.
It is also interesting to see how the EOS price is rising thanks to gains over Bitcoin and Ethereum. More specifically, EOS gained 4.28% over Bitcoin and 4.45% over Ethereum. All of these gains are pretty small compared to what we saw earlier this week, but things are definitely heading in the right direction once again.
With $1.154bn in 24-hour trading volume, the demand for EOS is certainly on the rise as we speak. It is evident all cryptocurrencies see an influx of new money all week long, as the global cryptocurrency trading volume has risen to over $22.6bn again. A healthy increase compared to the $10bn we saw not that long ago.
Trading EOS is mainly done on the OKEx, Huobi, and Bithumb exchanges as of right now. All of these trading platforms generate nearly equal trading volumes for EOS, which is rather impressive. There are three fiat currency pairs in the top five for EOS, which confirms we may see more new capital flow to this altcoin in the future.
How all of this will play out for the EOS price, remains anybody’s guess. With most other major markets showing a small dip right now, it seems normal this will affect the EOS price at some point in the future. Even so, the EOS price has successfully maintained its position above $11.5 despite the current volatility. If no dip occurs for EOS, reaching $12 later today shouldn’t be much of a problem.