EOS price analysis: EOS/USD still a shining star in the crypto market; meet EOSIO Dawn 4.0

EOS is the second biggest gainer among the top tan cryptocurrencies by market capitalization after IOTA (MIOTA). The altcoin is up 5.74% in the last 24 hours as the majority of cryptocurrencies correct the downside movements witnessed during the trading on Monday. EOS price has been on a totally different path from the general bullish trend that came into the market in April. The crypto has made a new all-time high and it is battling for a higher consolidation preferably above $20.00.

EOSIO Dawn 3.0 was introduced a month ago. The software has put EOSIO on the list of the top 8 most active C++ projects on Github. In the meantime, the team has been working a cleanup process along with stability of EOSIO software, which now brings us to the release of EOSIO Dawn 4.0. The development team has been working on the various aspects and features as it gets ready for the launch main launch scheduled in June 2018. Some of the issues addressed in the EOSIO Dawn 4.0 are the introduction of a new market-based RAM allocation model, producer vote decay, exchange integration support and refined producer pay model among others.

The days for the launch are approaching quite fast, but first, let us focus on what matters now: EOS price analysis.

EOS price has broken out of the falling wedge pattern formed on the 3-hour chart. It is currently trading above $18.00, while the target on the upside is $22 - $25.00. However, the buyers have to overcome the resistance at $20.00. On the downside, the moving averages are providing support below $18.00. If the above support fails to hold, EOS/USD will find other support areas at $16.00 and the 38.2% Fib retracement level with the last swing high of $21.5 and a low of $5.59 above the $15.00 level.