Bears get ready to take over as EOS flashes sell signal in the 12-hour chart

  • The 200-12-hour SMA has crossed over the 100-12-hour SMA to chart the bearish cross.
  • The last time EOS flashed a sell signal in the 12-hour chart, the price dropped by >15%.

EOS made the headlines this Tuesday when they appointed Goldman Sachs veteran, Martin Chavez, to lead the advisory board. The price reacted very favorably to this news and jumped up from a low of $2.48 to an intraday high of $2.97. However, EOS was not done making headlines. Along with Chavez joining the advisory board, news hit that Google Cloud would be joining the Ethereum killer’s blockchain ecosystem as a block producer. 

EOS social dominance

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Santiment’s social dominance chart shows that EOS mentions dominated 24% of crypto social media this Tuesday following the above-mentioned revelations. A huge spike in social volume usually creates a lot of hype and pushes the price up. However, what immediately follows is a period

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