EOS Explodes 23% in Epic Pre-Rebrand Rally!

Holy smokes, EOS just rocketed up to 23% today, and it's all because of the buzz around its massive rebrand to Vaulta! The charts are lighting up with bullish patterns left and right.

EOS (EOS) has been on a tear for three straight days, smashing an intraday high of $0.707 on April 1. Its market cap blasted past $1 billion as I'm typing this. The price surge came with an insane 87% jump in trading volume, with a whopping $371.6 million changing hands between traders.

So, what's fueling this EOS crypto rocket? Let me break it down for you:

First up, everyone's hyped about EOS's upcoming rebrand to Vaulta, set to launch by the end of May 2025. They're shifting gears to focus on blockchain-powered banking solutions, and it's got everyone talking.

As part of the rebrand, the EOS token is morphing into Vaulta, with a slick new ticker coming later this month. The new token will keep all of EOS's core tech, including its integration with exSat, the Bitcoin banking solutions.

Second, the new Vaulta token is offering a mind-blowing 17% staking yield, backed by a reward pool of around 250 million tokens. That's way higher than big shots like Ethereum (ETH) at 2.03% and Solana (SOL) at 5.14%.

Lastly, the derivatives market is going all-in on EOS going even higher. CoinGlass data shows open interest in EOS futures surged over 30%, hitting an 11-month high of $144.14 million. The funding rate flipped positive too, meaning more traders are betting on EOS to keep climbing in the near future.

Chart watchers are all over this, and they think the rally is just getting started.

Analyst CW pointed out that EOS already blasted through a key sell wall at $0.65 and is now gunning for the $1 mark, a huge psychological and technical level it hasn't hit since mid-December last year.

World of Charts, another analyst, echoed the same price target, saying EOS still has plenty of juice for a potential continuation of this epic rally.

EOS Technical Analysis

From a technical standpoint, everything's lining up for the bulls to keep charging.

On the 1-day/USDT price chart, EOS just broke out of a descending wedge pattern that had been holding it down for months. In tech analysis, that's a bullish reversal signal, especially after a long downtrend.

The breakout happened around the $0.45–$0.50 zone, which had been a strong support in the past. Now, EOS is trading above $0.67 and looks like it's heading straight for the next key resistance near $1.

The Supertrend indicator 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 totally dominating any selling right now.

Over on the 4-hour chart, EOS 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.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.