EOS Spiked 26%, Will its Price Fly Above The $0.71 Mark?

• EOS price surged 26% in the last 24 hours showing a positive trend.
• EOS price broke above the 50-day EMA mark showing strength on the charts.

EOS price is showing strength and heading towards the $0.6755 level. This positive trend suggests that an upward move toward the expected target of $0.8227 is possible. However, its price has to break the $0.6755 hurdle for this. The EOS token is trading above the 50-day EMA but still has to break the 200-day EMA mark to start a bullish rally.

Additionally, chart structures based on recent trading sessions show a bias in favour of bulls. In the last two days, bulls showed their strength and pushed the price by approximately 40%. The increased activity of bulls supports the optimistic outlook in EOS. 

According to CMC data, at the time of publication, EOS is trading at $0.6090 with an intraday gain of 23%, indicating bullish sentiment. Additionally, the intraday trading volume is $466.22 million with a 630% surge and the market capitalization is $945.98 million. 

There is one more catalyst behind this upsurge. According to the EOS Authority, total EOS accounts witnessed a good surge over the last month. On 19 Feb, total accounts were 6,308,400 and currently, it is 6,314,634. Moreover, total txs per day also increased.

Will EOS Price Break Above The $0.68 Hurdle?

EOS price is bullish hovering in the $0.599 – $0.675 range with the highest trading volume. However, to start a bullish rally price has to break the 200 EMA ($0.675) mark. 

The RSI curve is around 59.01 in the positive zone and heading in an upward direction showcasing a bullish outlook. Its MACD indicator has shown a bullish crossover, with the green histogram, indicating price is turning bullish.

EOS price surged 26% in the last 24 hours, trading above the 50 EMA mark and showing bullish signals. Onchain data is also looking positive showing increased accounts and transactions. To start a fresh bullish rally price has to break 200 EMA mark and sustain over it.

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