Date: Tue, April 01, 2025 | 06:14 AM GMT
The cryptocurrency market has started Q2 on a positive note after a historically bearish Q1, where Ethereum (ETH) declined by over 44%, pushing major altcoins to bottom levels.
However, EOS (EOS) has made a strong comeback with an impressive 18% surge, breaking a key moving average (MA) resistance. Meanwhile, Filecoin (FIL) has gained 5%, showing price action that hints at a potential move similar to EOS.
EOS (EOS) Breaks Key Moving Averages
On the daily chart, EOS successfully broke out of a falling wedge pattern on March 18, surpassing its key downtrend resistance at $0.51. The major bullish momentum came after EOS cleared both the 50-day and 200-day MA, leading to the current price level of $0.69.
If the rally continues, EOS is expected to approach its next resistance level at $0.8211, which represents an additional 15% upside from the current price.
Can Filecoin (FIL) Follow EOS’s Breakout?
Similar to EOS, Filecoin (FIL) also broke out of a falling wedge pattern on March 15, crossing its key resistance trendline at $2.87. However, after facing recent market-wide corrections, FIL has now rebounded to $2.91 and is approaching a key resistance at the 50-day MA and the $3.65 resistance zone—a level that EOS successfully crossed.
If FIL follows EOS’s trajectory and manages to break above this resistance, it could target the 200-day MA and eventually the $4.95 resistance zone, representing a potential 72% upside from the current price.
Final Thoughts
EOS has taken the lead in breaking through critical resistance levels, confirming its bullish momentum. Filecoin, on the other hand, is still testing key areas, but if it follows a similar pattern, it could see a major breakout in the coming weeks.
Traders should keep an eye on whether FIL can reclaim key moving averages, as that could be the trigger for a significant rally similar to EOS.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.