EOS: Will $0.72 be the next target after the 13.68% rally?

EOS (EOS) flashed a positive signal over the weekend. On April 12, EOS increased by 13.68% from $0.619 to $0.704. Two weeks prior, it had broken the daily bearish market structure by surpassing the resistance level of $0.641 (red).

At the moment, the EOS bulls are fighting to defend the $0.62 level.

Market sentiment is still a bit fearful and Bitcoin (BTC) will affect whether EOS can continue to recover or not.

Currently, the EOS bulls are striving to defend the support level of $0.65 and are looking for ways to push the price higher.

Source: TradingViewThe bullish market structure was broken on the daily chart at the end of March, when the price surged past $0.641. Since then, EOS has established higher highs at $0.884 and higher lows around $0.588. Therefore, investors may be hopeful for a bullish momentum for this altcoin.

The United States' announcement to temporarily suspend tariffs for 90 days is not enough to dispel the instability in the overall market, and the EOS bulls must be cautious in adjusting their optimism.

OBV has been on an upward trend in recent weeks and the RSI remains above the neutral level of 50. Together, the indicators and price structure indicate reasons for optimism.

Source: TradingViewThe 4-hour chart reinforces this view, with a bullish structure following the growth on Saturday, pushing the price above the lower high at $0.6645.

Source: CoinglassAfter the pullback in April, a set of Fibonacci retracement levels was drawn, showing that EOS tested the 78.6% Fibonacci level at $0.614 before reversing to an uptrend, a bullish signal, especially on lower timeframes.

The $0.71 area has successfully resisted downward pressure, and the price action indicates a strong potential for growth.

Supporting this outlook, the 1-month liquidation map identifies $0.72 and $0.8 as key liquidity zones, with strong interest also observed around the $0.63 – $0.64 area as the price of EOS retests this zone.

With the bullish structure observed on the 4-hour chart, a rally towards $0.72 seems imminent. If Bitcoin continues its upward trend, EOS may leverage this momentum and aim for the resistance level of $0.8 in the coming week.

You can see the price of EOS here.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

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Viet Cuong

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