The EOS price movement in this bullish cycle has been disappointing. The price reached its absolute low in November 2024 and only rallied for a month before crashing again.
However, EOS has defied the rest of the crypto market by bouncing this month despite a marketwide correction. The rally accelerated after the rebranding to Vaulta, focusing on Web3 banking.
On April 4, Vaulta partnered with VirgoPay to improve cross-border payments.
With EOS trading just below a critical resistance at $0.80, it is worth examining the price movement to see if it can reach new highs.
After the increase, technical indicators gradually turn bullish. The optimism is evident in the Moving Average Convergence/Divergence (MACD), which is close to making a bullish cross and going above 0.
Similarly, the Relative Strength Index (RSI) is increasing above 50. So, the weekly time EOS analysis leans bullish without confirming the trend reversal.
EOS Price Breaks Out
The daily time frame shows that EOS broke out from a descending resistance trend line, which has been in place since December 2024.
The breakout implies the correction is over, and an upward movement has started, aligning perfectly with the price action.
Therefore, the most likely future outlook is the completion of wave B near $0.60, followed by another upward movement toward the 0.5 Fibonacci retracement at $1.
The rally will complete wave C and, with it, the entire relief rally.
However, the short-term outlook suggests the increase is just a relief rally that will eventually lead to new lows.
The upward EOS movement is not over, and the price can reach $1 this year.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
