EOS Higher Despite Crypto Selloff, FLOW Extends Declines – Market Updates Bitcoin News
Monday saw eos still in the green, despite the latest red wave in cryptocurrency markets. Today’s rally sees the token move almost 20% higher over the past seven days. Flow, on the other hand, extended recent declines and is now down by almost 30% in the same period.
EOS traded mostly higher on Monday, as the token held close to a three-month high.
Last Wednesday saw EOS/USD rise to a high of $1.64, which was the strongest point since May 11.
Since then, market uncertainty has increased, with the token falling 20 cents below this level, at $1.44, on Sunday.
To start the week, however, 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 the 65.45 threshold.
As a result, previous gains have faded as bulls chose to secure profits by liquidating positions.
EOS is tracking at $1.52 at the time of writing.
Flow (FLOW)
On the other hand, flow (FLOW) was at the opposite end of the spectrum, as prices extended recent declines.
After 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 traded at a low of $1.86.
Overall, FLOW is down almost 26% in the last week, and this comes after an extended period of selling.
Prices have now moved lower for eleven of the last twelve sessions, starting after a false breakout of the $3.20 resistance level.
The 10-day (red) and 25-day (blue) moving averages are now on the verge of a bearish cross, which could mean bearish sentiment will remain for several weeks ahead.
Register your email here to get weekly price analysis updates delivered to your inbox:
Do you expect the flow to fall to a floor of $1.80 this week? Let us know your thoughts in the comments.
Image credit: 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 an endorsement or recommendation of 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 content, goods or services mentioned in this article.
