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Although Bitcoin saw a price drop earlier this week, many of the crypto market’s altcoins did as well. The effect of Bitcoin’s price decline, on the other hand, was not consistent across the altcoin sector. In the case of Stellar and Vechain, the price correction had no substantial effect on their consolidating price; however, this was not the case with EOS.
With a market value of more than $3.9 billion, EOS is actually the 29th largest cryptocurrency. At the time of publication, the coin was worth $4.15 and had seen greater turnover in the preceding week, resulting in a 9 percent rise in the previous day. There is a high barrier at $4.45 and two strong supports at $3.8 and $3.5 that might help EOS if a downtrend occurs.
Bollinger Bands highlighted the enormous uncertainty in the EOS market about a month ago, and it has since been converging, and there isn’t any volatility in the coin’s price activity at the moment. The RSI seemed encouraging as it advanced into the overbought zone, suggesting a price rise in the near term.
Stellar has stuck in the $0.38 range despite struggling to push through the $0.44 resistance for over a month. Since depreciating over the previous week, the coin’s price rose by 1.74 percent in the last day. If the current support level around $0.35 fails, XLM could fall to around $0.28 in the coming week.
In the short term, the MACD predictor indicated the existence of a bearish market for XLM. The MACD indicator underwent a bearish crossover, with the signal now over the MACD axis. The RSI predictor displayed some divergence as it moved further from the neutral zone.
Vechain price has seen periods of sideways volatility, but has been able to sustain a consistent uptrend in the long term. Despite brief adjustments, the coin’s price has risen since the beginning of the month. At the time of publishing, VET was trading at $0.092 and was attempting to break through its immediate resistance level of $0.099. If the positive trend fades, there are two solid supports at $0.078 and $0.061.
EMA ribbons have now settled below the coin’s present selling price and are providing support. This could keep the price in its current range and help it break through its immediate resistance. The stochastic indicator seemed bullish as well, as it stayed in the overbought sector.