EOS price eyes 20% surge as multiple bullish patterns emerge

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com EOS crypto is showing strong signs of recovery just days after officially rebranding to Vaulta, with several bullish signals flashing across its charts.EOS (EOS), now rebranded as Vaulta with the ticker ‘A’, surged to an intraday high of $0.85 on the afternoon of May 16 afternoon Asian time, snapping out of a 6-day downtrend that started on May 10. From its April lows, EOS has now climbed around 48%, lifting its market cap to roughly $1.27 billion at press time.Part of this rally is also being driven by strong on-chain activity. According to DeFiLlama, trading volume on EOS-based decentralized exchanges has picked up over the past week. In just 7 days, these DEXs processed $102.49 million worth of tokens, bringing the 30-day total close to $280 million.Another key factor is the positive funding rate on perpetual futures, which has remained in the green for 8 consecutive days. A positive rate means long traders are paying shorts, a sign of bullish sentiment, as demand for long positions increases.Adding to the bullish momentum, World Liberty Financial (WLFI), a crypto fund associated with President Donald Trump, recently acquired 3.64 million EOS tokens for approximately $3 million at an average price of $0.824 per token. This purchase marks WLFI’s first foray into EOS and is seen by some as a vote of confidence in the project’s rebranding to Vaulta. EOS eyes $1 breakoutOn the technical side, things are looking just as strong. The 1-day EOS/USDT chart shows a breakout from the upper range of a multi-week ascending broadening wedge, a pattern usually considered bullish.EOS price, 50-day EMA and RSI chart — May 16 | Source: crypto.newsIt now appears poised to break out of a descending broadening wedge, which, if confirmed, could set the stage for further upside. EOS is currently trading above its 50-day moving average, and momentum indicators like the RSI are trending higher.Speaking of RSI, the Relative Strength Index sits at 58, suggesting that EOS still has room to run before hitting overbought levels.If the rally continues and EOS breaks past the $0.8770 resistance again, which was last tested on April 3, it could open the door to the next big target at $1.00, a key psychological level. Sustained bullish momentum might even push it further to $1.50, the token’s high from last December.Meanwhile, early signs of a cup-and-handle pattern have caught the attention of some traders, hinting at the possibility of a significant breakout.Since transitioning to Vaulta on May 14, community sentiment has turned increasingly hopeful, viewing the rebrand as a long-awaited pivot toward real-world utility.What is Vaulta?Vaulta aims to reshape blockchain-based banking. It will provide programmable smart contracts and on-chain settlement layers designed to help banks and fintech companies launch scalable, cross-border services without needing deep blockchain expertise.The team behind Vaulta has likened its ambitions to Stripe, the global payment processor, but for the blockchain space. The goal is to make it easier for traditional financial firms to tap into the power of Web3.Backing this transition, major exchanges like Binance, KuCoin, MEXC, and HTX have already pledged support for the rebranding and the 1:1 EOS-to-A token swap. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Source link