Today may certainly prove to be a rather interesting day for all cryptocurrency markets. Although it is still early to say whether or not the upward momentum can remain in place, things certainly look pretty interesting for some currencies. The EOS price, for example, has increased by 11.5% of over the past 24 hours, although it remains unclear when the next big dip will materialize.
The EOS Price is on the Move Again
Every time we see any cryptocurrency gain value, there is an immediate concern as to how things can turn around pretty quickly. This is especially true over the past few months, as all markets have been battered for no apparent reason. Even the EOS price took a massive tumble in the past few months, and things may still head in that direction for quite some time to come
With this new 11.52% gain in the past few hours, the EOS price is looking up once again. That in itself is pretty interesting, even though most of the top 10 cryptocurrencies are in the green as well. If this trend keeps up for a few more hours – or hopefully days – we may see things improve again in a major manner. For the EOS price, finding stability near $6.5 still remains a top priority.
It is also impressive how the EOS price is gaining on both Bitcoin and Ethereum as of right now. Even though these two top currencies are putting in some solid gains of their own, it seems EOS still trumps everything as of right now That doesn’t necessarily mean things will remain that way, though, but it is good to see regardless.
With over half a billion USD in 24-hour trading volume, the demand for EOS is certainly increasing. For now, this still doesn’t reflect upon other cryptocurrency markets as of right now, although things are improving gradually. If the EOS price is destined to keep going up, the volume will need to double in the coming hours. It seems pretty unrealistic that will happen, albeit stranger things happen in the cryptocurrency world.
South Korea is clearly showing some love for EOS as of right now. With both Bithumb and Upbit showing a lot of trading volume, there is a fair amount of fresh capital flowing into this ecosystem. Huobi is in third place, albeit its volume is a lot less impressive than people may want it to be. Even so, all of these pairs show there is positive momentum on the horizon for cryptocurrency, which can only be considered to be a good thing.
How things will play out for the EOS price, remains to be determined. As of right now, the situation looks rather promising, but there is still a lot of room left for volatility. It is not entirely impossible we will see another EOS price dip in the coming hours, although the bearish momentum seems to be fading overall. At some point in the future, we may all look back on early 2018 as an anomaly, rather than an actual trend for the rest of the year.