EOS experienced a strong price rally over the weekend, with a 13.68% increase in value. The bulls successfully defended the $0.64 support level, and market sentiment was cautiously optimistic. The bullish market structure on the 1-day chart, with a higher high at $0.884 and a higher low at $0.588, indicated a positive outlook for EOS. Despite the ongoing uncertainty in the wider market, indicators such as the OBV and RSI suggested reasons to be bullish.
The 4-hour chart also supported this bullish view, with a structure indicating a potential move higher. Fibonacci retracement levels suggested a possible bullish reversal after testing the 78.6% level at $0.614. The liquidation heatmap highlighted key regions of interest at $0.72 and $0.8, with liquidity built up at $0.63-$0.64 that could be tested. If Bitcoin maintains its upward momentum, EOS could extend its gains and reach the $0.8 resistance level in the coming week.
The 1-day and 4-hour price structures both showed signs of bullishness, with a potential 10% price bounce indicated by the liquidation heatmap. The bullish market structure break on the 1-day chart came at the end of March, with prices surpassing the $0.641 resistance level. The ongoing battle to defend the $0.64 region as support was a key focus for EOS bulls, with the need to watch Bitcoin’s influence on the recovery.
Investors were advised to approach the bullish outlook for EOS with caution, despite positive indicators on the charts. The 90-day tariff pause announcement by the US did little to alleviate uncertainty in the market, adding an element of caution to the bullish sentiment. The H4 bullish structure added to the potential for a move higher, with key levels at $0.72 and $0.8 attracting attention as possible targets in the short term.
In conclusion, EOS showed promising signs of bullishness following a weekend rally and ongoing support from bulls defending key levels. Market sentiment remained cautious, with potential for further gains if Bitcoin continues to perform well. Investors were advised to monitor key resistance levels and indicators for potential signals of a continued upward trend. As always, it is important to remember that the information presented is the opinion of the writer and not financial advice.
