#BlackRock_CEO
#EOS
#cryptocurrency
#Price_analysis
Most crypto prices have dropped steadily since the rally on Tuesday. EOS is no exception. The coin was trading just under $8 on Tuesday before the prices hiked to $8.9 amid positive rumors about BlackRock and Goldman Sachs in the market. The BlackRock CEO has now come forward denying rumors about BlackRock investment into cryptocurrency as hogwash.
No surprise then that the price of EOS has taken a hit after the denial. EOS/USD pair is trading at $8.07 right now.
The EOS/USD has now been set on correcting itself for the past few days. The crypto coin had been showing an uptrend from 14thJuly 2018. The trend continued until 17thJuly 2018 when we witnessed a quick spike possible caused by the positive news. As you can see from the charts, the price has corrected three times now.
The chart shows that as the price of the EOS/USD pair reached the $8.5 zone, the price had been trying to strengthen the trend. With slight pressure from the Sell region the candle had showed a short-term downtrend. This means that we could find support for the coin, if the prices recover in the short-term.
The price of Bitcoin, which has stayed firm post-rally, could have an impact on EOS if and when it falls. We believe that the weekend would be important and we would need to wait and see how things turn before proceeding with EOS. At the current $8.07 level it is a hold position.
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