- EOS is the market leader with 7% growth.
- The coin has the potential to return to DMA200.
EOS is the fastest growing coin in top-20. It has surged from $2.71 to $3.06, gaining nearly 7% in recent 24 hours. The strong recovery pushed EOS back to the fourth place in global cryptocurrency rating produced by CoinMarketCap.
According to a popular cryptocurrency expert on Twitter known as DonAlt, EOS has been experiencing n exponential growth and recovered to its November 2018 levels, while Bitcoin has declined significantly within the same timeframe.
“We smashed it the first time – this is a good setup for a 2nd. I want to see a close above red & then I’ll target the upper red zone. EOS is back at the level it was before BTC broke 6k. (!) Showing exceptional strength. A bit more confirmation and I’ll jump in,” he wrote in his recent EOS update.
Looking technically, EOS/USD may be poised for a short-term correction after a strong rally. The intraday Relative Strength Index (RSI) has reverted from an overbought territory, which might signal that more sell-off may be in store.
However, the set back is likely to be shallow as EOS is expected to maintain the bullish momentum amid global cryptocurrency market recovery. Moreover, the coin has settled above DMA100 for the first time since the beginning of November 2018.
A sustainable movement above $3.00 handle will create an additional impulse and push it towards $4.3 (DMA200).
EOS/USD. 1D chart
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