BMT Crypto and EOS Show Short-Term Bullish Potential

• BMT crypto and EOS showed a strong short-term bullish potential.
• The small size of BMT’s market cap meant it was likely to be more volatile.

Bubblemaps (BMT), the Solana (SOL) based token of the analytics firm Bubblemaps, saw a 124% price rally on March 18, the same day it was listed on Binance.

After reaching a high of $0.325, the BMT crypto receded by 31.8%. This might be a “sell the news” type of event, as the price saw double-digit percentage gains on March 17 as well. However, the selling pressure might not last long.

The strong uptrend and demand were likely to result in only a minor retracement before the next leg higher.

EOS (EOS) was another major winner, gaining 37.87% from Tuesday’s low at $0.487 to a high of $0.67. Despite its larger market cap, both tokens were among the biggest winners of the past 24 hours.

AMBCrypto analyzed price charts to predict future trends.

Similarities Between BMT Crypto and EOS

The 2-hour BMT chart showed a strong uptrend in progress. Although the token was retracing at press time, the structure remained bullish. Moreover, the small market cap meant any gains could be quick and explosive.

Investors with high conviction can use Fibonacci retracement levels plotted in the chart to bid on the BMT token. The OBV (On-Balance Volume) has not noticeably sunk, despite the token falling below the 38.2% level at $0.235. Hence, there’s a good chance that recovery would be quick once the retracement concludes.

The EOS price action on the 2-hour chart also showed strong bullishness. Even though the token retraced more than 50% of recent gains, the RSI (Relative Strength Index) remained above neutral 50. The OBV didn’t plummet below recent lows, providing hope that EOS bulls would defend the next retracement levels at $0.558 and $0.527. However, this could turn out to be false hope.

EOS has a strong bearish structure on the 1-day chart. The recent rally moved the price just above the recent lower high at $0.647. This suggests the move was likely a liquidity grab and a false breakout, indicating that EOS may continue trending downward.

Traders should maintain a bearish bias despite recent gains. Conversely, a daily session close above $0.647 would flip the structure bullishly, indicating further gains might be likely.

> Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.