It is evident a lot of things are happening in the world of cryptocurrency right now. The current market cap rankings look a lit different from what people would expect to see. Especially the EOS price has seen some solid momentum over the past week, although it struggles to remain above $12. Right now, stabilizing the EOS price around $10 seems to be the top priority for the community. Whether or not this mission will succeed, is difficult to predict.

Can the EOS Price Find Support at $10?

The past week has been rather volatile for all cryptocurrencies in existence. Ever since Coinmarketcap stopped tracking the Korean prices, we have a more realistic overview of the value of individual currencies. As was to be expected, this change also impacted the EOS price quite a bit, although it seems little damage has been done in the long run. More specifically, the EOS price was valued at over $12 when the “adjustment” happened.

Although a major dip set in shortly after — going as low as $8.94 – the momentum reversed again rather swiftly. Ever since that time, the EOS price has been on the cusp of either dropping below $9 or surpassing $10. It seems the latter option is in play right now, although the current overall market volatility will shake things up for quite some time to come. This will undoubtedly make the EOS price bounce around quite a bit, yet the overall momentum seems bullish right now.

In fact, the EOS price successfully rose to $11.5 earlier today. Unfortunately, that was the moment at which the entire market cap suddenly lot several dozen billion, which are slowly coming back to us as we speak. This brief EOS price drop below $9.60 has created a new buy opportunity users will gladly take advantage of, though. Right now, one EOS is valued at $10.53, which is still a 15% increase over the past 24 hours. Not bad, considering everything else that is going on in the cryptocurrency world right now.

With almost $1.5bn in 24-hour trading volume, things are looking rather promising for EOS. Although this doesn’t automatically mean the EOS price will surge to $12 or more all of a sudden, there is enough momentum to keep things going for some time to come. Most other altcoins would love to see this amount of trading volume, yet very few manage to achieve it. Diversification is a key aspect of cryptocurrency investing these days, and it’s always good to buy as many coins as you can to hedge against volatility.

Unsurprisingly, EOS is very popular in South Korea right now. While the Bithumb price is excluded, the exchange still generated nearly half of this altcoin’s trading volume right now. Bitfinex and Ethfinex are in second and third place respectively, with just $330,000 separating the two right now. Fresh capital is pouring into cryptocurrency as we speak, which can only be considered to be a good sign. After all, we need fresh capital to keep this party going throughout 2018 and beyond.

For the time being, it’s difficult to predict what will happen to the EOS price. Although reaching $12 seems to be a matter of time, the entire cryptocurrency market cap is on wobbly legs as we speak. It only takes one nudge to send the markets spiraling out of control, either for better or worse. Right now, there is no telling which way things will head in the coming hours and days. However, the EOS price will come out just fine if stability can be found near the $10 mark.