In the cryptocurrency world, it quickly becomes evident the overall momentum does not necessarily dictate the pace for all individual markets. Although Bitcoin is seemingly stuck in sideways trading right now, the EOS price is moving up pretty quickly. With another 7.5% gain in the bag, the push to $4 is seemingly still in progress as of right now.
EOS Price Surge is not Over
While Bitcoin is not entirely sure which direction to head in right now, the rest of the markets are still giving it their all. More specifically, the EOS value is rising at a quick pace, which further confirms there is a genuine interest in this particular altcoin. Although this uptrend has been in place since last week, it would appear things are still following the same path.
Over the past few hours, there has been another EOS price increase of 7.5%. In the process, the USD value of this altcoin has now risen to $3.88, which seems to indicate the $4 level will come into play sooner or later. In terms of EOS/BTC, there is a 6.4% increase to bring the value to 97,259 Satoshi. Both of these trends are impressive in their own right. What is even more interesting is how the overall EOS trading volume has risen to over $2bn.
On social media, there is some genuine excitement for this altcoin. Crypto Sign confirms EOS is one of the strongest rises today, primarily because of its solid gains in USD value. While this trend is very interesting to take note of, one has to wonder how much of this is bullish momentum and how much is just speculation to obtain more BTC. That is always the big question when it comes to altcoins.
Yim, who is slowly becoming somewhat of a notorious EOS bull on Twitter, looks at the current price level and looks for even bigger gains. Although this most recent uptrend is already quite steep, there will ultimately be a pullback regardless. Even so, this user is confident those pullback areas are merely designed to accumulate more EOS, more than anything else.
HTF looks great
Pullbacks are for buying pic.twitter.com/SUxU66RpYi
— yim (@crypto_yim) February 20, 2019
As has been the case for quite some time now, there are always arbitrage opportunities to take advantage of. In the case of EOS, there is seemingly only one decent opportunity, but it is still a pretty interesting one to keep an eye on. With a potential profit of 1.3%, the option should not be overlooked whatsoever.
— Arbing Tool (@ArbingTool) February 20, 2019
All things considered, the current overall EOS market momentum still appears to be pretty bullish. Although the previous gain was met with a brief dip eventually, it would appear that negative momentum has been thrown out of the window. As such, it is a matter of time until $4 is reached. Holding on to that level and ensuring it becomes a new support trendline, will be a different matter altogether.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.