EOS can become the next most popular cryptocurrency. At the moment it breaks all the records.
The cryptocurrency EOS was launched in 2017. Nowadays it is on the fifth position among the most popular cryptocurrencies in the world by market capitalization. It is trading for about $ 15 per token. The record maximum of $ 23.03 was recorded on the Bitfinex exchange on April 29. After reaching the maximum, EOS sank by 38.2%.The Fibonacci retracement level of 38.2% is usually considered as one of the three gold levels in the technical analysis. The other two are 50% and 61.8%. Typically, these levels are considered as strong support or resistance levels; if the price breaks below 38.2%, then the next threshold is 50%, followed by 61.8%, and so on. On the other hand, if the 38.2% support level persists, this is usually considered a sign of price rebound. EOS managed to stay within the support level at 38.2%. The coin reached this point on May 1 and within the previous week fluctuated above this threshold value. At the same time, the volume of day trades fell significantly, this may indicate that the reason for the price rebound is the investors fixing profit. Within a few days EOS can overcome the $ 20 mark. If this really happens, rally may start, which will raise the value of the cryptocurrency above $ 23.03. The project also plans to launch the main-net on June 2. This event was long expected by investors and the community, and it can only push the price of the coin up.