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  • Come June, the network will release “the biggest news since EOSIO announcement.”
  • The descending channel is closing in for a breakout that could send EOS on an upward trajectory above $4.0.

The founder of EOS, Dan Larimer has broken the silence within the community with a tipoff of a groundbreaking announcement. Since EOS released EOSIO version 1.6 in January 2019, the community has been starved of news. However, the founder has told the community that come June, the network will release “the biggest news since EOSIO announcement.”

Larimer made the comment during an interaction with the members of the Telegram channel. He, however, refrained from giving any information regarding the announcement. Although, he insisted that the announcement is going to be very impactful on EOS.

As mentioned, no one knows what the big announcement is going to be and whether it will be huge enough to stir a price action upwards. Meanwhile, EOS IS trading at $3.6 while battling with the resistance at the 50 SMA 1-hour. Since its failure to break above $4.0 mid-March, EOS has been on a downward trend.

The downtrend trend is forming a descending channel similar to one that resulted in EOS/USD recovery from $3.5 support to test $4.0 on March 16. The forming descending channel is closing in for a breakout that could send EOS on an upward trajectory above $4.0.

EOS/USD 2-hour chart