EOS Crypto shows strong signs of recovery only a few days after official rebranding to Vaulta, with various bullish signals that flash over his charts.
EOS (EOS), now renamed Vaulta with the Ticker ‘A’, rose to an intraday high of $ 0.85 in the afternoon of May 16 Asian times, broke from a 6-day downward trend that started on 10 May. From its lows, around 48%have now climbed, market capitalization have been lifted to rough $ 1.27 billion during a period.
Part of this rally is also powered by strong activity on the chain. According to DefillamaTrade volume on EOS -based decentralized fairs was picked up last week. In just 7 days these DEXs processed $ 102.49 million in tokens, which brought the total of 30 days to almost $ 280 million.
Another important factor is the positive financing speed on eternal futures, which remained in the green for 8 consecutive days. A positive rate means that long traders pay shorts, a sign of bullish sentiment, as the demand for long positions increases.
World Liberty Financial (WLFI), a crypto fund associated with President Donald Trump, has been added to the Bullish Momentum. 3.64 million EOS -Tokens For around $ 3 million at an average price of $ 0.824 per token.
This purchase marks WLFI’s first trip to EOS and is seen by some as a voice of trust in the rebranding of the project to Vaulta.
EOS -eyes $ 1 breakout
On the technical side it looks just as strong. The 1-day EOS/USDT graph shows an outbreak of the upper series of a multi-week rising wider, a pattern that is usually considered bullish.
It now seems ready to break from a decreasing wider -wig, which, if confirmed, could determine the stage for further upside down. EOS is currently acting above its 50-day advancing average and momentum indicators such as the RSI are higher.
Speaking of RSI, the relative strength index is at 58, which suggests that EOS still has room to walk before he touches overbought levels.
If the rally goes ahead and EOS breaks again past the resistance of $ 0.8770, which was last tested on 3 April, it can open the door to the next big goal at $ 1.00, an important psychological level. Lustig Bullish Momentum it can even push it further to $ 1.50, the high of last December.
In the meantime, early signs of a cup and handle pattern have attracted the attention of some traders, so that the possibility of an important outbreak is drawn.
Since the transition to Vaulta on 14 May, Community sentiment has become increasingly hopeful and the Rebrand regards as a long -awaited pivot to the usefulness of the real world.
What is Vaulta?
Vaulta wants to reform blockchain-based banking. It will offer programmable smart contracts and on-chain tuning that are designed to help banks and fintech companies launch scalable, cross-border services without deep blockchain expertise.
The team behind Vaulta compared his ambitions with Stripe, the global payment processor, but for the blockchain room. The aim is to make it easier for traditional financial companies to use the power of Web3.
By supporting this transition, large exchanges such as Binance, Kucin, Mexc and HTX have already promised support for the rebranding and the 1: 1 EOS-to-a-Token Swap.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
