EOS rallied as high as 23% today, ahead of its major rebranding to Vaulta, as multiple bullish patterns emerged on its charts.
EOS (EOS) price shot up for the third day in a row, hitting an intraday high of $0.707 on April 1 as its market cap climbed to over $1 billion when writing. The price surge was accompanied by an 87% increase in trading volume, with $371.6 million exchanged between traders.
There are three main catalysts driving EOS crypto’s gains today.
First off, there’s a lot of hype around EOS’s upcoming rebranding to Vaulta, expected to go live by the end of May 2025. The project is shifting its focus toward blockchain-powered banking solutions.
As part of the rebrand, the EOS token will transition into Vaulta, with a fresh ticker expected to be revealed later this month. The new token will carry over all of EOS’s core tech, including its integration with exSat, the Bitcoin banking solutions.
Second, the new Vaulta token will offer a staking yield of around 17%, backed by a reward pool of about 250 million tokens, placing it much higher than major players like Ethereum (ETH) and Solana (SOL) at 2.03% and 5.14%, respectively.
Lastly, traders in the derivatives market are clearly betting on EOS going higher. Data from CoinGlass shows that open interest in EOS futures surged more than 30%, hitting an 11-month high of $144.14 million. The funding rate has also flipped positive, a sign that more traders are now betting on the upside in the near term.
Chart watchers are taking notice, as they believe the rally could just be getting started.
Analyst CW pointed out that EOS has already cleared a key sell wall at $0.65 and now has its sights set on the $1 mark, a major psychological and technical level that the altcoin hasn’t reached since mid-December last year.
Fellow analyst World of Charts echoed the same price target, noting that EOS still has plenty of momentum for a potential continuation of the ongoing rally.
EOS technical analysis
From a technical standpoint, things are lining up well for the bulls.
On the 1-day/USDT price chart, EOS price recently broke out of a descending wedge pattern that had been holding it down for months. In technical analysis, the pattern is seen as a bullish reversal signal, especially after a long downtrend.
The move happened around the $0.45–$0.50 zone, which had acted as strong support in the past. Now, EOS is trading above $0.67 and looks to be heading toward the next key resistance near $1.
The Supertrend indicator has flipped bullish, moving below the price and flashing green, a sign that the trend might be shifting in favor of the bulls.
On top of that, the Aroon Up is at 100% while the Aroon Down is at 0%, showing that buying pressure is clearly dominating over any selling right now.
Over on the 4-hour chart, EOS also formed a golden cross on March 25, with the 50-day moving average crossing above the 200-day SMA. The pattern hasn’t been invalidated yet and could set the stage for a longer-term move higher, with $1 as the next potential target.
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