EOS price lags as Bitcoin Cash, Litecoin soar

EOS price lags as Bitcoin Cash, Litecoin soar

By Benson Toti - min read
  • EOS price is down 13% year-to-date even as LTC and BCH have turned extremely bullish.
  • The broader market outlook is bullish and that could help EOS target recent peak.
  • EOS traded at $0.77 at the time of writing, about 10% up after a brief dip to $0.70. 

EOS price is currently trading near $0.77 after briefly falling to $0.70 on a move replicated across the broader crypto market.

However, the coin is still hovering below June highs, and is down 15% in the past 30 days. EOS is also way off its year-to-date peak, with the performance contrasting with some of the oldest altcoins as seen over the last few weeks.

Could news about EOS EVM provide positive vibes that can spur bulls higher? Probably, and it’s what bulls need – upside impetus sparked by increased network activity. 

EOS price amid crypto market outlook

Coins like Litecoin (LTC) and Bitcoin Cash (BCH) have been on a tear lately, outperforming even the benchmark crypto Bitcoin (BTC) that has had an impressive first half of 2023 with 83% year-to-date gains.

On the other hand, we have EOS that has remained largely wedged in negative territory since the breakdown from around $2 in September last year. The downturn from $1.34 in March gradually saw EOS/USD reach $0.60 in mid-June and see bulls down 13% YTD even after recent gains.

The coin’s performance has been punctuated by the dips occasioned by SEC’s lawsuits against Coinbase and Binance, which had Bitcoin retreating sharply from the $30k area earlier this month. While the spot ETF wave sparked by asset manager giant BlackRock has had EOS bounce higher, the overall technical setup is bearish.

EOS price might yet also see fresh sell-off as bankrupt crypto lender Celsius begins to sell or convert altcoins into BTC and ETH. [Read more].