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EOS, One of the Few Tokens to Not yet Have Gone to All Time Low

Oct 10, 2019

Despite the positive news about the launch of the EOSIO 2.0 protocol, the rate of EOS/USDT pair is not in a huge rush to bounce back to its ATH. After a strong downward squeeze on September 24 the price was only able to come back up to 3.30. Meanwhile, against the backdrop of a price decline of all altcoins the price dropped to the bottom boundary of the flag.

This pattern signifies a continuation of the trend, so there is no point in expecting strong growth right now. The breach of the lower boundary of the flag will trigger a strong wave of selloffs of the coin, which will likely drive the price to the 2.60 mark. As a result, this development will have a negative effect on the asset overall.

We cannot currently recommend buying EOS for USDT: the best way to get into the currency would be to wait until the price reaches 2.50-2.60 (upon following the global vector of the trend). At this level it would be sensible to place a limit order to buy.

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