Biggest Movers: EOS Higher Despite Crypto Sell-off, FLOW Extends Declines

Monday saw eos remain in the green, despite the latest red wave in cryptocurrency markets. Today's rally sees the token move almost 20% higher in the last seven days. Flow, on the other hand, extended its recent declines and is now down by almost 30% in the same period.

Timeline of Eos, Flow

The EOS/USDT pair struggled to surpass the $1.413 supply zone over the past three months and formed a range-bound rally. However, this consolidation phase shaped into an inverted head and shoulder pattern, indicating a recovery opportunity for coin holders.

Eos rose by as much as 20% on Wednesday, as bulls continued to react to the news of its upcoming Yield+ incentive program. Today's price surge comes despite the global cryptocurrency market cap falling by almost 2% as of writing. Tezos was also higher, hitting a two-month high on hump day.

EOS token surges following Block.one settlement refusal in district court for the Southern District of New York. The post EOS token jumps 17% following court ruling on Block.one settlement appeared first on The Block.

The blockchain protocol Antelope has taken what it describes as a “leap of freedom” and forked its protocol off development firm Block.one's EOSIO platform and instead embraced the rival EOS Network Foundation.

Flow (CRYPTO: FLOW) was the best performing crypto token over the last week, rallying 47% over the last seven days. The news was largely driven by an announcement regarding the blockchain's partnership with Meta Platforms' (NASDAQ: META) Instagram to bring NFTs to the social media platform.

Flow (FLOW/USD) is a high-performing blockchain network that was developed to facilitate the process of non-fungible token (NFT) creation, alongside giving utility to GameFi as well as decentralized applications (dApps).

EOS price analysis shows the continuation of the upside momentum but with limited price action. The buyers meet the critical supply zone after surging more than 12% in the previous session.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. EOS's descent below the $3.6-mark gave the sellers enough thrust to cause a breakdown below $1.

For nearly six weeks, the EOS price rose in response to the rising parallel channel pattern. However, the pattern could contain the growth in bullish momentum, resulting in an upside breakout.

The EOS price analysis shows strong bullish momentum, despite the bears being at the upper hand previously. The buying momentum has overpowered the market with a greater tendency towards buying more assets.