Tanya Abrosimova
Independent Analyst
- EOS recovery is gaining traction, $6.00 within reach.
- Critical resistance is created by $6.70.
EOS, the 5th largest coin with the market cap $5.7B and average daily trading volume $840M is changing hands at $5.64, unchanged both on a daily basis and since the beginning of Monday. The coin has been consolidating in a narrow range after retracement from the recent high at $631. EOS is moving in sync with other digital assets as there are no specific fundamental factors that might have served as a catalyst for the coin.
What’s going on
EOS network got implicated in just another scandal in the end of the previous week. According to the research performed by Twitter-based Maple Leaf Capital, EOS producers can participate in coordinated voting to cement their position on the market.
“In allegation 1, Huobi votes for 20 other BPs candidates where 16 of those vote for Huobi as well. As you can see in the image attached to this tweet,” the researchers say providing screenshots of the documents.
Huobi denied the accusations.
EOS technical picture
Looking technically, EOS/USD is supported by $5.33 (DMA50). The price stays above this technical indicator since September 20, which is a positive signal. If it is cleared, the sell-oof may be extended towards $5.00 (psychological level and September 26 low).
On the upside, the recovery is capped by $6.00 (psychological level and September 28 high). This resistance is followed by $6.5 (DMA100
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