The cryptocurrency market is showing high volatility today as most of the coins had a loss, but the last one hour picture looks green for the coins. Bitcoin reversed yesterday’s gains and went down to a swing low of $9071.31 after which it went up by a little. At 12:26 PM UTC, the coin was seen to be trading at $9177.31 with a 1.57% loss during the day.
IOTA is now the biggest loser of the day with a loss of 13.94% followed by Bitcoin Cash [BCH] with a 12.72% loss. EOS and TRON [TRX] are the only coins to stand apart with a steady gain while all the other coins were seen to be going down.
The community seems to be in doubt as to for how long this trend will continue. However, in the last one hour, the coins have had a considerable gain, albeit, it may not have the momentum to reverse the loss. TRON gained by 6.78% in the last one hour and is looking bullish. This shows that the coins are moving further away from their dependency on Bitcoin [BTC].
Our sentiment analysis segment provides crypto-related sentiments of people, from around the world, and are presented as it is in this segment to ensure that our readers get a wholesome picture. The expert opinions of people are based on the current market trends and possible outcomes of the coins in the future.
This segment is carefully structured after interviewing a group of investors, analysts, skeptics, miners, influencers, and including their valuable comments in this segment. This analysis is on EOS which is currently at the 5th spot in the rankings.
EOS retains the 5th spot with a 66.74% gain in the last 7 days. At 12:44 PM UTC, the coin was seen to be trading at $14.41 with a market capitalization of $11.739 billion. The coin peaked at an intraday high of $16.10 at 8:59 PM UTC yesterday, which is also the highest mark since the all-time high in the month of January.
The coin was priced below the $6 mark before it went on a bullish move and gained about $10 within 15 days. However, the coin could not hold on to that mark and it went down to the low levels of $13 loosing almost 5%. The coin has a huge support at $13 which prevented it from going down further. With the mainnet launch going live in just 39 days, EOS’ team promises that they will make the coin better than Ethereum [ETH].
David Hayes, an EOS investor from Ballarat says:
“The coin is more likely to go for a correction and there is an indication for a short term bearish trend. If the coin retains the $14 mark, then there is a chance for a bullish reversal. If this happens, the coin will move up into the $20 levels and may also be seen to reach $26.31 mark.”
Lara Hughes, an Anthropologist from Barrie says:
“There are two possible movements in the bull trend scenario where the coin may fall down for a while and get back up in two ways. The first one looks more bullish than the second one with a steady growth. The coin has to break the current resistance without correction for it to follow the first path which has a target of $38.”
Gerrard Sanderson, a Lecturer from Middleburg says:
“EOS was hyped in the media for a few days now because of the sudden gain it had on Tuesday which took it above $16. The community seem to be bullish and they expect more gains from the coin which they say will start by the 1st of June. The road to $30 looks clear and the bears will eventually give way for the bulls.”
To conclude, 58% of EOS respondents feel bullish and they say that once the mainnet is launched the coin will have more growth, not if suddenly. Another 42% of EOS respondents are bearish as they feel that the coin’s upside growth is capped by a strong resistance.
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