EOS price analysis: EOS/USD bogged down in a range, under pressure following Evolution airdrop

EOS goes below $18.00, still in a tight range.
Evolution airdrop is behind the price growth.

Tanya Abrosimova Independent Analyst

EOS/USD has been stagnant recently, sitting in a tight range limited by $17.00 on the downside and $19.00 on the upside. The coin managed to gain over 5% on Thursday and touched %18.70 before retreating to $17.47 at the time of writing. EOS takes the fifth place in the top list of coins with highest market capitalization.

EOS project is going to launch Dawn 4.0 version of its distributed operating system with the MainNet launch scheduled on June 1. Market players seem to be indifferent to the announcement as it has no noticeable effect on either EOS liquidity or performance.

Evolution airdrop took place on May 10. EOS holders with at least 25 tokens in their wallets were eligible for airdrop. This event is probably behind EOS buying interest registered on Thursday. Normally, price movements inspired by airdrops are short-lived, which means that EOS may retreat back to the lower band of the above-mentioned range.

EOS technical picture

Technically, EOS/USD short-term perspectives are uncertain. A sustained movement above $19.00 area needed to for an extended recovery with the next target at $20.00 and $22.00. On the downside, the support is created by $17.00, followed by $16.20

EOS/USD, the hourly chart

Author

Tanya Abrosimova

Independent Analyst

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