It would appear none of the top crypto market is capable of maintaining its position today. That is not entirely uncommon during the weekend, especially when Bitcoin is losing value in quick succession. As far as the EOS price is concerned, the momentum isn’t looking too promising either. It will be interesting to see if the $3.5 level can act as support in the coming hours and days.

EOS Price Pressure Grows Steadily

It should not come as much of a surprise to see all alternative markets under pressure when Bitcoin turns bearish. As is usually the case when things had in this direction the altcoins lose more value than BTC, primarily because the individual ratio to Bitcoin comes under a lot of pressure. EOS is no exception in this regard, which won’t please too many speculators.

Over the past 24 hours, the combined damage to the EOS price is quite severe. More specifically, there is the 4.2% decline in USD value, pushing the price down to $3.51. There is also a 3.46% decrease in EOS/BTC, which drives that ratio down to…

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Source: https://themerkle.com/eos-price-remains-bearish-yet-traders-preach-the-project-is-undervalued/