EOS (EOS) Network Records Strong Bullish Recovery!

While the crypto market continues struggling with top tokens trading below their important levels, the EOS coin gains the crypto spotlight.

The crypto market has seen a shift in momentum this week as some of the largest tokens have begun to rise from their key levels. Among the tokens that have seen the biggest gains is EOS, which has soared 35.14% in the past 24 hours.

As of 08:45 ET on Friday, EOS is trading at $0.6586, with a 24-hour trading volume of $462.39 million. The price of EOS has risen by 633.43% in the past seven days.

The cryptocurrency is still down 97.12% from its all-time high (ATH) of $22.89, which it reached in January 2018.

EOS has been on a tear this week as it transitions from EOS Network to Vaulta. The move will see Vaulta retain the existing blockchain of the EOS Network, which has been live since June 2018, and integrate the exSat Bitcoin digital banking solution.

The transition process will also see the launch of the Vaulta banking advisory council, which will be focused on bridging the gap between traditional banking and the DeFi-verse (Decentralized Finance) with the support of the EOS Network.

Investors will be watching to see if EOS can continue its strong run in the coming week.

EOS price analysis: technical indicators

The price of EOS has been on a strong run this week as it broke out of the falling wedge pattern that it has been trading within since December 2024 on the 4-hour time frame.

The Relative Strength Index (RSI) is also indicating that the price of EOS has more room to run in the short term. The RSI is currently in the overbought territory on the daily time frame as its EMA 14-day is experiencing a bullish convergence.

Furthermore, with an intensified rising pattern, the EOS token may continue gaining momentum.

The Moving Average Convergence Divergence (MACD) is also showing a similar price action in the EOS price chart. The MACD is currently showing a bullish cross on the daily time frame as its EMA 12 & 26-day are witnessing a positive convergence.

This indicates that the short-term momentum is starting to outpace the long-term momentum, which could lead to a continuation of the recent price gains.

EOS price predictions: what to expect

If the market favors the bulls, then the price of EOS may retest its immediate resistance level of $0.6640 and head toward its high of $0.8750. Maintaining the price above that level could result in this altcoin preparing to retest its crucial milestone of $1.

However, a strong bearish rejection at $0.6640 could pull the price toward the resistance trendline of its falling wedge bullish pattern.

Moreover, increased liquidations could result in it plunging toward its crucial low of 0.4050. A break below this level could spark a continuation of the falling wedge pattern.

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