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.
The weekly time frame chart shows that EOS has traded above the $0.52 support area since 2023.
The exception has been two declines, in July-November 2024 and March 2025 (black circles).
However, the EOS price reclaimed the support area both times, creating a higher low in March 2025.
After a significant rally, EOS reached a high of $0.90. However, it also created a long upper wick (red icon) and fell below $0.78.
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.
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.
Adding to the breakout, the wave count shows a completed five-wave downward movement (red).
While the EOS price has already reached the 0.382 Fibonacci retracement resistance, the rally has been short relative to the previous drop.
So, the increase may be wave A in an A-B-C structure (green). If the count is accurate, EOS is currently in wave B.
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.
The EOS price showed long-term strength by preventing a breakdown and reclaiming the $0.58 level.
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.