BMT and EOS Show Bullish Signs Despite Retracements: What’s Next for These Tokens?

BMT and EOS Price Surge: What Traders Should Know About These Crypto Movements

BMT and EOS – On March 18th, Bubblemaps (BMT), the Solana-based token of the analytics firm Bubblemaps, surged by 124% following its listing on Binance. Reaching a high of $0.325, the token subsequently retraced by 31.8%, which may be attributed to a typical “sell the news” event. Despite this, market sentiment suggests that the BMT token could recover swiftly due to its strong upward momentum.

EOS Posts Strong Gains with a 37.87% Surge

In a similar performance, EOS (EOS) saw a notable 37.87% rally, climbing from a low of $0.487 to a high of $0.67 on March 17th. Though EOS has a larger market cap, it, along with BMT, was among the top performers in the past 24 hours. AMBCrypto analyzed the price charts for both tokens to predict their next possible moves.

BMT and EOS Show Similar Bullish Patterns

Looking at the BMT 2-hour chart, a strong uptrend was evident, even though the token faced a minor retracement. The Fibonacci retracement levels indicated potential for a rebound, with On-Balance Volume (OBV) not showing significant decline, suggesting a possible quick recovery once the retracement ends. Given Bubblemaps’s small market cap, any positive move could be sharp and explosive.

On the other hand, EOS also exhibited strong bullishness on its 2-hour chart, with RSI remaining above the neutral 50 mark despite a 50% retracement. However, the 1-day EOS chart showed a bearish structure, with the recent rally appearing to be a liquidity grab. EOS might face downward pressure unless the price breaks above $0.647, which would signal a possible trend reversal.

Both tokens’ performances suggest that despite short-term retracements, their upward momentum could continue, but the broader market’s trends will dictate their future price action.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.