EOS Rallies Over 18% After Breaking Key Resistance – Can It Sustain Momentum?
EOS Network, a Layer-1 blockchain utilizing the open-source Antelope protocol to enable fast and feeless transactions, has seen a remarkable 18% price increase in the past 24 hours.
According to CoinMarketCap data, $EOS climbed from a low of $0.6071 to an intraday high of $0.8345 before slightly retracing to $0.8505 at press time.
This growth extended its monthly gains to 33%, boosting EOS’s market cap beyond $1 billion.
The price jump was accompanied by a 42% increase in trading volume, indicating growing investor interest.
Vaulta Rebrand and Institutional Interest Fuel EOS Price Surge
One possible driver behind EOS’s rally is the hype surrounding its upcoming rebrand to Vaulta, set to be implemented by May 2025.
A March announcement revealed that the rebrand could unlock “the immense potential” of Bitcoin (BTC) and other digital assets, integrating directly with exSat, a Bitcoin-powered digital banking solution.
Nonetheless, Vaulta’s “BankingOS” is positioned to make Bitcoin the foundation of a new DeFi ecosystem.
Additionally, the new Vaulta token is expected to offer an attractive 17% staking yield, surpassing major DeFi competitors and drawing attention from yield-seeking investors.
This technical roadmap builds on an established blockchain foundation. Institutional interest in $EOS has been present since its 2018 launch as an Ethereum competitor, raising a record-breaking $4 billion in its initial coin offering (ICO).
In 2023, EOS secured regulatory approval in Japan, enabling the token to be traded against the Japanese yen on platforms like BitTrade.
However, not all developments have been favorable. In June 2023, Tether (USDT) discontinued support for EOS, citing its failure to meet the ecosystem’s evolving needs.
Technical Analysis—Can EOS Continue the Uptrend?
Historically, $EOS reached an all-time high of $22.89 during the 2018 bull run but later plunged to a cycle low of $0.4015 in November 2024.
Since then, the token has been consolidating within a range before recently breaking above key resistance levels.
On the weekly chart, $EOS has surged past the 55-day Exponential Moving Average (EMA), signaling a shift from a bearish to a bullish trend.
The breakout occurred in the $0.65-$0.68 range, a key resistance zone in previous market cycles.
Now trading above $0.8046, $EOS is eyeing the next major resistance near $1.00-$1.20.
If the price holds above $0.80-$0.85, further upside could be likely.
However, a rejection may lead to retests of $0.67-$0.70, aligning with the EMA Ribbon.
The derivatives market also appears optimistic about $EOS’s prospects.
CoinGlass data reveals a 56% growth in open interest for $EOS futures, reaching an 11-month high of $225.61 million.
Additionally, the funding rate has shifted positive, indicating increased bullish sentiment among futures traders.
Possible Correction and Buying Opportunity
Despite the bullish momentum, investors should remain cautious.
If $EOS fails to hold above key support levels, a retracement to $0.55 could present a potential buying opportunity.
This level coincides with the upper trendline of the descending channel, offering a favorable risk-reward entry for long-term investors.
