EOS price analysis indicates that bullish momentum will continue in April.
EOS price holds the 50-day and 200-day EMAs and attempts to break out above the $0.8 mark. EOS price analysis displays that bulls will dominate and the positive momentum will continue in April. Price performed well last month and recovered about 80% from the $0.4420 support level. It demonstrates the signs of the trend reversal and creates hope for long-term investors. Furthermore, the EOS price broke above the 50-day and 200-day EMA marks which increased the confidence of the investors. Later, it began to rise upward by forming a strong marubozu candlestick and is now trying to break the $0.822 resistance level.
At the same time, the daily buying volume has also increased by 60% which shows buyers are building long positions. The bullish rally in the EOS price looks reliable. Therefore, the price is likely to hold the higher levels, and buyers will dominate the sellers in the supply zone. According to CMC data, currently, EOS price is trading at $0.7989 with an intraday increase of about 16%. The 24-hour trading volume is up by 60% currently at $635.73 million.
Will EOS Price Reach the $1 Mark?
Source: Tradingview
At present, $0.8227 is acting as an immediate barrier to the EOS price. If bulls succeed in breaking it, then the possibility of hitting a new swing high toward $1 could increase. Moreover, the price is trading above the 50-day ($0.6007) and 200-day (0.6650) levels, which is a positive sign. On a daily chart, the MACD curve is heading in an upward direction displaying a positive momentum. The histogram is forming green bars indicating bullishness. On the other hand, the RSI at 77.38 denotes an overbought condition, which indicates price correction.
Highlighted Crypto News Today:
Raydium (RAY) Surges Over 6%, Will the Momentum Hold?