In the cryptocurrency world, there is hardly ever any positive price momentum over the weekend. It seems this weekend may prove to offer something different, as the EOS price has risen by 3.93% already. This makes it one of the bigger “gainers” over the past 24 hours, and seemingly spells more positive momentum may be looming on the horizon.
EOS Price Aims for $15
With another rather disappointing week of cryptocurrency trading in the books, there isn’t much to be overly excited about at this stage. For the EOS price, the past week has seen ups, downs, and sideways momentum all over. While the momentum started out above $15.3, the EOS price quickly dropped to under $13 a few days later. That in itself is not surprising, as all other cryptocurrencies suffered from similar momentum around the same time.
Even so, the EOS price successfully recovered from the big dip eventually. Around 24 hours later, the EOS price had recovered to just over $13.7, and a few days of sideways trading ensued shortly after. Fast forward to today, and the value per EOS has risen to $14.49 again. Although a 3.93% increase over the past 24 hours isn’t necessarily impressive, it is still a positive development given how the rest of the week evolved.
There are also some solid gains over Bitcoin and Ethereum to note where EOS is concerned. More specifically, the EOS/BTC ratio improved by 3.97% in the past 24 hours, whereas the EOS/ETH ratio improved by 3.82%. All of this further confirms things are going according to plan for EOS, although there is still a lot of work to be done prior to speaking of an effective market recovery.
One thing working in favor of EOS is how the trading volume has picked up nicely over the past few days. These past 24 hours have generated over $1.06m in trading volume, which seemingly confirms there is plenty of interest in buying, selling, and trading EOS in large quantities. Such a high trading volume can help push the EOS price to $15 in the coming days, albeit nothing has been set in stone just yet.
Looking at the markets currently ranked by trading volume, Huobi is clearly in the lead with its USDT pair. OKEX’s USDT market is not that far behind, and Binance’s BTC market completes the top three. On the fiat currency front, Bitfinex’s USD pair is in fourth place, albeit it is ever so slightly ahead of Bithumb’s KRW market. A very good collection of trading pairs for EOS, and one that may effectively push its value even higher in the days to come.
Considering how most of the top cryptocurrency markets appear stuck in sideways trading momentum right now, it is all the more interesting to see the EOS price rise in value. Whether or not these gains cna be sustained for much longer, will always remain difficult to answer. Considering how the bearish pressure hasn’t left the cryptocurrency markets by any means, things will undoubtedly get very interesting over the weekend.
Image(s): Shutterstock.com