While the crypto market continues struggling with top tokens trading below their important levels, the EOS coin gains the crypto spotlight. Reportedly, it has jumped 35.14% in 24 hours, from $0.4874 to $0.6586 with a trading volume of $462.39 million, a change of +633.43%.
Following the price rally, numerous theories were considered to be the catalyst of the price action. However, market trends speculate the transition from EOS Network to Vaulta is the primary reason for the latest price pump.
EOS Network has executed a bold step by undergoing a major transaction with Vaulta to strengthen its grip in the Web3 financial sector. Moreover, post-transition, the Vaulta banking advisory council will bridge the gap between traditional banking and the DeFi-verse (Decentralized Finance) with the support of the EOS Network.
Notably, Vaulta is set to retain the existing blockchain of the EOS Network as it has been established in the market since June 2018. The firm will integrate the exSat Bitcoin digital banking solution following the compilation of the transition process.
Amid the translation news and present market situations, investors are curious with questions like “Is EOS a good investment?” To answer such FOMOs, we present to you the possible short-term technical analysis and EOS price prediction.
EOS Crypto Records Strong Bullish Recovery!
Trading within a falling wedge pattern since December 2024, the EOS coin price has displayed a strong bullish breakout this week. This has further resulted in speculation of a potential retest to $1 as this crypto token is presently trading at a discount of 97.12% from its ATH of $22.89.
After trading below the neutral trendline for a brief period, the Relative Strength Index (RSI) records a sharp rise in the daily time frame with its EMA 14-day experiencing a bullish convergence. With an intensified rising pattern, the EOS token may continue gaining momentum.
The Moving Average Convergence Divergence (MACD) displays a similar price action in the EOS price chart. With its EMA 12 & 26-day witnessing a positive convergence, this altcoin hints at a promising week ahead.
Will EOS Price Rise Again?
Suppose, the market favors the bulls, under such a situation, the price of EOS may retest its immediate resistance level of $0.6640 and head toward its high of $0.8750. Maintaining the price above that level could result in this altcoin preparing to retest its crucial milestone of $1.
On the other hand, a strong bearish rejection at $0.6640 could pull the price toward the resistance trendline of its falling wedge bullish pattern. Moreover, increased liquidations could result in it plunging toward its crucial low of 0.4050.
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