The cryptocurrency market is turning issues round at present, and EOS is one in all the best-performing cryptocurrencies amongst the prime 50 cash.
EOS, the native coin of the EOSIO ecosystem, is the greatest performer amongst the prime 50 cryptocurrencies by market cap. EOS has added more than 30% to its worth in the last 24 hours.
The rally comes as EOSIO is set for a rebrand. The EOSIO is the blockchain, and it is set for a significant rebrand. The rebrand would additionally result in the fork of the EOS coin. According to the team, the EOS Network Foundation would quickly be in cost of the EOS blockchain.
The rally comes as the broader cryptocurrency market is recovering from the hunch it suffered earlier this week. For the first time this week, the cryptocurrency market is buying and selling in the inexperienced zone.
The market has added more than 1% to its worth over the previous 24 hours, with the whole market cap now round $1.15 trillion.
Bitcoin is nonetheless buying and selling above $24k per coin, whereas Ether has surged previous the $1,900 mark once more after including more than 2% to its worth in the last 24 hours.
Key ranges to observe
The EOS/USD 4-hour chart is one in all the most bullish charts amongst the prime 100 cryptocurrencies by market cap.
The MACD line is deep inside the optimistic zone, indicating that EOS is experiencing a bullish momentum at the second.
The 14-day RSI of 81 reveals that EOS is at the moment in the overbought area after rallying by more than 40% over the previous seven days.
At press time, EOS is buying and selling at $1.620 per coin. If the rally continues, EOS may commerce above the $2.059 resistance level for the first time since May.
However, EOS may need the assist of the broader crypto market to make a transfer previous the $2.488 resistance stage over the subsequent few days.
The submit Why is EOS up by more than 30% in the last 24 hours? appeared first on CoinJournal.
