EOS is making headlines again after increasing by over 15% in the past 24 hours.

The latest price action, along with volume data and technical patterns, suggests that the cryptocurrency may have more room to run. Subsequently, it could see another 18 to 20% move in the near future.

As mentioned in the previous analysis, EOS is making headlines again today after increasing by over 15% in the past 24 hours. Traders and analysts are now closely watching whether this breakout is the beginning of an upward rally or simply a short-term momentum shift.

The latest price action, along with volume data and technical patterns, suggest that the cryptocurrency may have more room to run. Subsequently, it could see another 18 to 20% move in the near future.

Technical Breakout Signals Shift in Market Sentiment

The breakout is clearly captured on the lower time frame (LTF) chart, where EOS moved above the key horizontal resistance zone near $0.74. This level had previously acted as a ceiling, capping multiple rallies over the past week.

However, with today’s bullish push, it moved through that barrier with increased volume and positive momentum. The breakout has now positioned the token above the volume node resistance zone, indicating renewed demand from market participants.

Volume profile analysis supports this claim. A visible cluster of buy-side activity formed below $0.74, providing strong support. The rally initiated from a classic falling wedge formation, which had been compressing price action over several days.

As price broke out of this wedge, reclaiming key levels and prompting a surge of buying, it led to a clean breakout above trendline resistance.

The current price sits near $0.78, with a clear upside target in the $0.85 to $0.90 zone. This indicates a possible 18–20% rally from the breakout base. The area above $0.78 remains relatively thin in terms of volume resistance.

Market Factors Behind the Move

EOS’s bullish run comes amid optimism in the altcoin market, where select tokens are showing signs of life after a relatively stagnant April. Often viewed as undervalued relative to other layer 1s, the cryptocurrency may be benefiting from rotational capital flows.

In addition, the project’s recent technical improvements and governance tweaks have boosted market confidence. There is also speculation about renewed ecosystem activity, especially in the lead-up to new DeFi integrations.

Not only this, but developer grants aimed at reinvigorating dApp development on the EOS mainnet are attracting attention. While these fundamentals are not the sole drivers of the rally, they contribute to the narrative that EOS might be ready for a comeback.

However, traders should remain cautious. Although the momentum looks strong, EOS has a history of sharp retracements after strong moves. The key level to watch in the short term is the breakout zone between $0.73 and $0.75.

If the price retests this region and holds it as support, the odds of a continuation toward the $0.85 target will increase. For now, EOS appears technically ready for further gains, but as always in crypto markets, volatility can cut both ways. Traders should monitor volume flows and market sentiments closely as EOS attempts to reclaim its place.

News data source: kdj.com

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