EOS Rallies Despite Low Market Optimism

As we've previously reported, several major cryptocurrencies are currently weakening, and this trend is likely to continue—at least until there is a meaningful shift in market conditions. However, for traders and investors who prefer to avoid short positions, opportunities still exist.

We've identified a cryptocurrency that not only maintains a strong fundamental outlook but also exhibits a technically favorable price structure, showing resilience amid broader market weakness; EOS.

With its price already on the rise, current indicators suggest it could potentially grow even further, offering a compelling alternative for those looking to capitalize on bullish setups in a cautious environment.

Daily time frame analysis

EOSUSD - 1 Day Time Frame

Since the beginning of March, EOS has been building strong bullish momentum, resulting in the creation of a new support zone, highlighted in blue on the attached chart. This support formed immediately after a key Sell-Side Liquidity sweep, confirming a high-probability setup for initiating long positions.

EOS price target

The price of EOS is now testing a critical orange resistance zone. If it closes above this level on the daily timeframe, it could signal a renewed opportunity to enter the market with a buying intent.

A protective Stop Loss can be placed below the internal higher low, as shown on the chart, to effectively manage downside risk. As for profit-taking, the most strategic approach is to target levels above significant highs, where Buy-Side Liquidity is likely to accumulate.

Just as price action tends to dip below key lows to absorb Sell-Side Liquidity, it often pushes above recent highs in pursuit of Buy-Side Liquidity. These areas could be appropriate for partial profit-taking, allowing potential gains to be locked in while still leaving room for continued upside if the trend remains intact.