EOS price analysis: Bulls win back momentum after a bearish slope as the price recovers to $1.109

EOS price analysis is again in favor of the bulls. The latest updates show that the price has recovered up to $1.109, which is a great improvement considering the past trends and especially yesterday's plunge.

Timeline of Eos

The EOS Network Foundation has launched the EOS EVM mainnet, which emulates Ethereum's Virtual Machine and aims to improve interoperability between EOS and Ethereum. This allows for the deployment of decentralized applications (DApps) written in Solidity, offering access to lower fees and faster transactions of the EOS network.

DWF Labs, a digital asset market maker, has announced an investment deal worth over $60 million with the EOS Network Foundation. The deal includes a $45 million EOS token purchase agreement and a $15 million pledge to invest in businesses and projects based on EOS.

DWF Labs invests over $60 million in a partnership with the EOS Network Foundation, providing a $45 million EOS token purchase agreement and a $15 million pledge for EOS-based projects to expedite growth and adoption.

Ahead of the launch of its Ethereum Virtual Machine (EVM) on 14 April, EOS Network Ventures has pledged to invest $20 million to support the growth of EOS-based decentralized applications and gaming platforms.

The EOS blockchain is opening up to the world. That is the clear message from Yves La Rose, Co-founder and CEO of the EOS Network Foundation (ENF), the nonprofit organization that has taken over the network's management since its messy divorce from Block.one.

EOS has performed well in the markets and maintained its upward trajectory despite uncertainty across the market. Even though Bitcoin has retraced a good portion of its gains over the past two weeks, EOS was quick to rebound.

The EOS cryptocurrency achieved a 25% rally in just three days. A contrast to its previous struggle to overcome a resistance range in which it was stuck since the last week of January.

The amount of liquidity or total value locked (TVL) is one of the yardsticks used to assess the health of blockchain networks. By this measure, the state of the EOS network looks more promising this year.

Image source: Twitter  The recent announcement of a $100m war chest for EOS projects caught the crypto community by surprise, not least due to an otherwise gloomy picture in the markets following the collapse of FTX.  Just two days after FTX and Alameda Research filed for Chapter 11 bankruptcy, EOS Network Foundation (ENF) CEO Yves La Rose took to Twitter to let the cat out of the bag, promising that the $100m ecosystem fund would be ring-fenced for investment in purely EOS projects.

EOS's double-top setup on the daily chart paved a path for its recent bear run. A plausible reversal from its current rising wedge could pose hurdles for the bulls in the coming sessions.