EOS Price Analysis: Channel Breakout Encourages Recovery Rally To Hit $1.4

For nearly six weeks, the EOS price rose in response to the rising parallel channel pattern. However, the pattern could contain the growth in bullish momentum, resulting in an upside breakout.

Timeline of Eos

The EOS price analysis shows strong bullish momentum, despite the bears being at the upper hand previously. The buying momentum has overpowered the market with a greater tendency towards buying more assets.

Crypto poster boy Vitalik Buterin recently poured sarcastic scorn on the EOS blockchain project, apparently praising it on Twitter, saying it's both faster and more scalable than the Ethereum blockchain he created.  EOS is Ethereum On Steroids.The name reflects the fact that the core team learned from Ethereum's amateurish naivety and idealism, and built out a team of professional top-talent software developers that created a smart contract platform with much higher scalability and speed.

Over the recent years, the crypto market has become overly saturated with new coins joining the industry all the time. However, while some of these projects become leading cryptocurrencies, others tend to fall apart during the process, failing to become a part of the crypto world.

Ethereum [ETH] founder Vitalik Buterin, gave props to the EOS blockchain in response to a question posed by an Ethereum employee. Interestingly, Buterin's response suggests that he believes EOS is a better blockchain than Ethereum.

In a recent tweet, Vitalik Buterin praised EOS calling it “Ethereum On Steroids.” He said the naming reflects the lessons the core team learned from “Ethereum's amateurish naivety and idealism” to deliver a platform with superior scalability and speed.

Ethereum (ETH) co-founder Vitalik Buterin has tweeted that EOS, a once-popular blockchain project, stands for “Ethereum on Steroids,” recalling an old joke within the crypto community.

Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin recalled an old joke about cryptocurrency project EOS (CRYPTO: EOS) on Twitter Inc (NYSE: TWTR). What Happened: “EOS is Ethereum on Steriods,” joked Buterin, in response to what was presumably more sarcasm from Ethereum developer Josh Stark who asked what EOS was.

It's no secret that cryptocurrencies are experiencing a wild ride lately. Prices are surging and plummeting at unprecedented levels, and it can be tough to know which coins will come out on top.

Backed by serious investors, the EOS Network was once touted among the fastest third-generation blockchain networks. However, in the course of time, the project has faded into obscurity - primarily because of the inconsistent effort from developer Block.one.

The altcoin market saw a slight uptick over the last five days after most altcoins' four-hour technicals swooped into the oversold mark. Consequently, Solana flashed a bullish edge after breaking out of its falling wedge.