Monday saw eos remain in the green, despite the latest red wave in cryptocurrency markets. Today’s rally sees the token move almost 20% higher in the last seven days. Flow, on the other hand, extended its recent declines and is now down by almost 30% in the same period.
EOS was trading mostly higher on Monday, as the token remained close to a three-month high.
Last Wednesday saw EOS/USD rise to a high of $1.64, which was its strongest point since May 11.
Since then, market uncertainty has heightened, with the token fallen 20 cents below that level, at $1.44, on Sunday.
EOS/USD – Daily Chart
However, to start the week, bullish sentiment returned, with EOS hitting a high of $1.58, which is marginally below a ceiling of $1.60.
This peak saw the relative strength index (RSI) also hit a resistance point, colliding with its 65.45 threshold.
As a result of this, earlier gains have eased, as bulls opted to secure profits by liquidating positions.
EOS is tracking at $1.52 as of writing.
Flow (FLOW)
On the other hand, flow (FLOW) was on the opposite side of the spectrum, as prices extended recent declines.
Following a high of $2.20 during Sunday’s session, FLOW/USD fell to a low of $2.03 to start the week.
Today’s drop sees the token hit its lowest point since August 4, when prices were trading at a low of $1.86.
FLOW/USD – Daily Chart
Overall, FLOW is down by nearly 26% in the last week, and this comes after an extended period of sell-offs.
Prices have now moved lower for eleven of the last twelve sessions, commencing after a false breakout of the $3.20 resistance level.
The 10-day (red) and 25-day (blue) moving averages are now on the cusp of a downward cross, which could see bearish sentiment remain for weeks to come.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect flow to fall to a floor of $1.80 this week? Let us know your thoughts in the comments.
Eliman Dambell
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
More Popular News
In Case You Missed It
Source: https://news.bitcoin.com/biggest-movers-eos-higher-despite-crypto-sell-off-flow-extends-declines/
