EOS broke below our stop loss at $12.5 and plummeted to $10 levels. Selling gathered momentum once it broke below the critical support level of $12.9870. The bulls are likely to attempt to hold the $10 levels. If successful, the virtual currency might spend the next few days in the range of $10-$13.
However, if the bears continue to mount pressure and break below the $10 levels, the EOS/USD pair will become negative and can fall to $8 levels. The support at $9.6136 is unlikely to hold.
Traders should wait for a new buy setup to form before initiating any long positions.