EOS \u2013 like all major cryptocurrencies \u2013 has been seeing some turbulent price action over the past several days, with Bitcoin\u2019s sharp drop incurred this past Wednesday sending shockwaves throughout the aggregated market.<\/p>\n
These shockwaves led EOS \u2013 a popular Ethereum competitor \u2013 to drop from over $4.50 to lows of $3.80, which is where it was able to find some support that helped bolster its price action.<\/p>\n
Now, analysts are widely noting that there are a few factors that could suggest EOS will see some notable upwards momentum in the near-term, with one trader forecasting major gains against the altcoin\u2019s BTC trading pair.<\/p>\n
At the time of writing, EOS<\/a> is trading down marginally at its current price<\/a> of $4.09, which is around where it has been trading at over the past couple of days.<\/p>\n This past Wednesday, the crypto\u2019s intense selloff led it to erase roughly one month of gains, as the crypto climbed from late-January lows of roughly $3.90 to highs of $5.50, before incurring some downwards momentum that led it to the mid-$4.00 region.<\/p>\n This bearishness reached a boiling point when Bitcoin plummeted from $10,200 to lows of $9,200, subsequently leading EOS to drop in tandem to lows of $3.80.<\/p>\n In the near-term, the cryptocurrency\u2019s technical situation may be shaping up, however, as one prominent analyst\u2019s trading algorithm recently flashed a buy signal for the token.<\/p>\n CryptoGainz spoke about this in a tweet from a couple of days ago, noting that longing EOS could be one of the best plays at the moment.<\/p>\n \u201cNew algo is also long eos, which, if I’m being honest, is probably the infinitely better play,\u201d he explained.<\/p><\/blockquote>\n https:\/\/twitter.com\/CryptoGainz1\/status\/38267909?s=20<\/p>\n Besides showing hints of bullishness against USD, the crypto is also flashing signs that it is positioned to see major gains against its Bitcoin<\/a> trading pair.<\/p>\n Livercoin \u2013 another prominent crypto trader on Twitter \u2013 spoke about this possibility in a recent tweet, telling his followers that EOS could soon rally from its current price of 0.00042 BTC to 0.0007 BTC before it finds any notable resistance.<\/p>\n \u201cEOS \/ BTC TA – Bought some,\u201d he concisely stated.<\/p><\/blockquote>\n $EOS<\/a> \/ $BTC<\/a> TA<\/p>\n – Bought some…#Crypto<\/a> pic.twitter.com\/YRVzXxHTfR<\/a><\/p>\n — Livercoin (@Livercoin) February 22, 2020<\/a><\/p><\/blockquote>\nThe Crypto Could Soon Post Massive Gains Against BTC<\/strong>\u00a0<\/strong><\/h2>\n
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