EOS Surges 10.87% as Rebranding Timeline Fuels Momentum
- EOS eyes $1 resistance with MACD crossover and RSI at 62.78 signaling upward momentum.
- Trading volume jumps 102.70% as EOS rises from $0.6737 to $0.7508 in 24 hours.
In the blockchain space, EOS, a cryptocurrency designed for building and hosting decentralized applications (dApps), has recorded a notable price uptick in the last 24 hours. According to market data, the digital asset opened during the Asian trading session at a price value of $0.6901, recording a rally that has accounted for 10.87%.
EOS Approaches Key Resistance as Price Rises With Rebranding Timeline
According to an analysis prepared by CW, EOS is showing steady upward movement in line with the ongoing rebranding schedule. Market activity indicates continued momentum toward a near-term resistance level.
The price is currently approaching the $1 mark, where a major sell-wall is located. Market data reveals that EOS will likely reach the $1 level without immediate selling pressure slowing progress, representing a liquidity zone.
If the price maintains strength, there is potential to continue beyond this point. If EOS breaks through the current sell wall, the next resistance is visible near the $1.5 range. Momentum beyond this could drive the token toward a final barrier around $1.8.
What Do MACD and RSI Indicators Hint: Bullish Extension or Bearish Takeover?
A deeper technical analysis using MACD and RSI indicators notes that the RSI stands at 62.78; yet, it is still below the overbought threshold of 70, which demonstrates rising purchase interest despite not reaching a point of exhaustion. The 14-day average RSI stands at 54.15, below the current RSI index of 62.78, which establishes a bullish divergence.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is at 0.0184, crossing above the signal line at 0.0123. This positive crossover suggests growing upward momentum. Additionally, the histogram bars have turned green, reinforcing the bullish trend.
EOS recently bounced from the $0.60 level and is now eyeing the psychological resistance near $1. If upward pressure continues, a breakout beyond $1 could open room toward $1.50. Momentum indicators currently support this move, with both RSI and MACD favoring buyers.
However, any rejection below $0.76 may slow the rally and retest lower supports around $0.68.
EOS Price Movement
Meanwhile, CoinMarketCap data indicates that EOS is trading at $0.7508 after gaining 10.87% in the last 24 hours. The market cap increased to $1.17 billion, reflecting a 10.89% rise during the same period.
24-hour trading volume surged by 102.70%, reaching $207.36 million, indicating increased activity in the market. The EOS price rose from a daily low of $0.6737 to its current high, with steady upward movement across hourly intervals. The volume-to-market cap ratio now stands at 17.09%, showing heightened liquidity.
Highlighted Crypto News Today:
Freight Technologies to Buy $20M TRUMP Tokens Amid Stock Dip
