EOS Has a Potential to Go Higher
EOS has experienced a 4.5% decline this week, reaching $0.7890. Price movements suggest a consolidation phase between two significant levels: the support at $0.7000 and the resistance at $0.9000. Despite efforts to push the coin higher, it struggled to surpass the resistance in April.
However, the bullish technical outlook is supported by positive internal developments within the EOS project. Recently, EOS introduced Wrapped RAM (WRAM) to enhance the liquidity and accessibility of Random Access Memory (RAM). This innovative solution facilitates off-chain trading and increases market visibility.
Additionally, EOS Networks announced the development of exSat, a docking layer designed to bridge the gap between Bitcoin's mainnet and various layer-2 scaling solutions within the Bitcoin ecosystem. These advancements indicate a proactive approach to addressing scalability issues and expanding functionality.
Given these positive developments, EOS prices could potentially trend towards $1.1000 if the resistance at $0.9000 is successfully breached.
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