Not only bitcoin but all major altcoins are facing the bear market attack with a downfall of at least 10% this week. EOS, the 6th largest cryptocurrency by market capitalization had its major downfall on 13th November this month when EOS was trading around $5.46 and crashed around $4.46 in just 24 hours. Since then, EOS has been facing a downfall. The coin is currently trading at an 11 month low of $2.94 and is still facing the selling pressure which may push the price down even further.
Whale Alert
Over an hour back, 1,604,780 EOS were transferred to binance from two different wallets amidst the current bear market probably for selling, The current market situation has caused a drastic feeling of fear amongst the cryptocurrency investors who are now turning up to sell their holding at yearly lows in order to avoid further losses.
Here are the transaction details of the transfer where 200,000 EOS were transferred in one transaction and 1,404,780 in another:
Transaction 1:
Transaction 2:
EOS Price Analysis
EOS was trading around $3.45 yesterday when the major support at $3.4 was broken and the price started to fall. The major fall was experienced while trading at $3.15 and crashed up to $2.87. EOS is currently trading around $2.95 with a possibility of further losses. The major support now lies around $2.92 and the resistance range around $3.
This article is only the viewpoints of the author and the author is not a financial advisor. You should do your own due diligence before taking any position in Bitcoin or any Cryptocurrency market.
