[The Ethereum Killer is back! EOS targets $1, igniting bullish momentum after breaking out of multi-year downtrend]
EOS/USDT broke out of the falling wedge pattern formed from 2020 to 2024, showing strong upward momentum. The coin tumbled from highs near $8 to lows around $0.4 as market confidence waned. However, the breakout was accompanied by significant volume growth, and the price broke above the key $0.55 level and stabilized above $0.68, with recent gains of 25%.
Analysts pointed out that EOS formed a higher low at $0.50 before breaking out, showing that buyers have increased control and the market is significantly resilient. In terms of technical indicators, the RSI is approaching overbought territory, the MACD is showing a positive crossover, and the signal line is pointing upwards, confirming the bullish trend. Following the breakout, EOS tested key moving averages that have turned from resistance to support and coincided with the red EMA ribbon, reinforcing support at $0.55.
EOS currently faces resistance levels of $0.72 and $0.95, and if it can successfully break through, the price may push the price to the psychological level of $1.00. Historically, EOS has traded above $8, suggesting long-term recovery potential. The growth in trading volume further supports the upward trend, market confidence gradually recovers, and bullish momentum continues to increase.
