EOS PRICE ANALYSIS & PREDICTION (April 4) – EOS Defies Market Odds as it Pushes Towards $1, Are The Bulls Back?
As several altcoins take a downturn in the past week, EOS continued to show strength and registered another 5% gains overnight. It currently faces some hurdles, but appears bullish daily.
Following this week’s price break from a month resistance of $0.67, EOS advanced buying and reached a high of $0.88 yesterday after facing small hurdles on Tuesday. This came as a result of steady rising demand, but it has slowed down buying due to a rejection.
Despite that, the trading landscape has changed on the daily chart, and as we can see, the price is strong while following a positive sentiment. More surge in volatility is needed to validate a major reversal. Though the trend is changing but is yet to get out of the wood as it remains bearish in the mid-term.
The double-bottom pattern mentioned in the previous analysis is still forming on the weekly chart. A full recovery to the top should bring a total completion of this pattern. If that happens, we should anticipate a break up, which could rocket the price to a new yearly high.
Having defied the market odds in the past month, EOS has registered a significant gain and is now looking highly bullish on the weekly scale. A rejection under $1 could bring a small pullback before rising back. While the bears are currently off the market, they must retake the previous monthly low to regain control of the market.
EOS’s Key Levels To Watch
The recently flipped monthly $0.67 resistance still stands as a pullback level. A drop below it could bring us to the $0.545 support. There is also support at $0.435 in case of a dip.
Looking ahead, EOS may tap $0.99 by the end of the week. An increase above this key level should rally the price to $1.15 and $1.3 in the next few days.
Key Resistance Levels: $0.99, $1.15, $1.3
Key Support Levels: $0.67, $0.545, $0.435
- Spot Price: $0.836
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.
