EOS Price Gains Bullish Momentum As Its Trading Volume Surges 200%

• The EOS price has surged by 16% post a breakout from a falling wedge pattern.
• EOS crypto has gained bullish momentum after a correction phase.

After a strong bullish trend, the EOS price went through a correction phase. It formed a base at the $0.77 mark and then regained bullish momentum. Amid this bullish move, the price has triggered a breakout from the 20-day EMA. It seems that the correction phase is over, and a bullish rally might start soon.

In the short term, the EOS coin price has formed a falling wedge pattern. However, the price has triggered a breakout from the wedge and escalated by 16%. Experts expect a pullback before a massive bull run. Analysts believe that the EOS crypto has the potential to climb 85%.

Is the EOS Price Going to Blast? Analyst Weighs in

Rose Premium Signals consistently shares valuable crypto analysis on X. It has shared a prediction related to the EOS crypto price behavior. The EOS token has triggered a breakout from a falling wedge pattern in a 2-D time frame. After the breakout, the price is heading toward the Fibonacci levels.

As per the analysts, the EOS price could experience a pullback before the surge. If the EOS coin price holds over the 20-day EMA, it could touch the $1.3081 mark in a spike. Suppose buyers remain active, the EOS could hit the $1.52 and $1.73 mark.

EOS Coin Price Analysis Amid Recent Bullish Spike

EOS crypto was trading at $0.90 at press time after dropping 1.73% over the past 24 hours. The market capitalization was $1.40 billion, and the 24-hour trading volume was $401.17 million.

The EOS price has remained bearish in December and has declined to the $0.77 mark. However, the price has experienced an accumulation phase and has departed from this zone. Amid this bullish move, the price was moving toward the previous resistance level of $1.10.

The bullish momentum might face difficulty near the $1.1 mark. Suppose the EOS coin price triggers a breakout from that territory, buyers might be confident. This rally is coming after a strong correction phase. Therefore, the price has the potential to remain bullish for a longer time and may hit the $2 mark.

On the other hand, if buyers lose momentum and the price slips below the 20-day EMA, it would be a panic situation. Once the EOS price starts trading below the 200-day EMA, strong selling pressure can be anticipated.

EOS Price Experienced Breakout: Could It Run Longer?

The EOS price has recently shown significant bullish momentum following a breakout from a falling wedge pattern. That suggests a potential reversal from the previous correction phase.

While the price currently sits around the $0.90 level, analysts anticipate the possibility of reaching higher targets of $1.30 and beyond. That would be possible if the positive trend continues and the price maintains levels above the 20-day EMA.

However, traders should remain vigilant as price action could experience pullbacks, especially near key resistance levels like $1.10. A sustained decline below the 20-day EMA could indicate a shift in sentiment, possibly leading to increased selling pressure. Overall, the outlook on EOS remains cautiously optimistic, with the potential for further gains in the coming period.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.