Key Takeaways
EOS was once one of the largest cryptocurrencies based on its market capitalization, cracking the top 10 with a $17 billion market cap in April 2018.
However, it has fallen by the wayside as newer blockchains entered the scene, leaving EOS unable to set itself apart.
On March 18, EOS announced a rebrand to Vaulta, triggering a 50% price increase.
With that in mind, the question is: Is this what EOS needs to finally begin a bullish trend reversal, or will the excitement be short-lived? Let’s find out.
On March 18, the EOS network rebranded to Vaulta, confirming its pivot into Web3 gaming. The official transition and token swap is set for May 2025.
The team created the Vaulta Banking Advisory Council , intending to guide the project and accelerate the adoption of Web3 Banking.
Vaulta will focus on four core pillars they believe will bring real value to the network and capture the Web3 Banking market share:
Vaulta will also focu s on direct Bitcoin integration, a decentralized on-chain RAM database for data storage, and inter-blockchain communication for interoperability.
The daily time frame analysis shows that EOS has increased since its March 11 lows. The upward movement accelerated on March 18, causing a breakout from a descending resistance trend line that existed for 104 days.
EOS reached a high of $0.67, a 50% price increase since its lows. The high confirmed the $0.67 horizontal area as resistance and created a small upper wick (red icon).
This is just a minor resistance area, with the main being $0.80.
Technical indicators support the upward movement. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) generated bullish divergences (orange) before the upward movement, increasing its legitimacy.
The RSI has moved above 50, while the MACD made a bullish cross and is almost positive. So, the daily time frame suggests the EOS price increase will continue.
The EOS wave count suggests the breakout will continue. It shows a completed five-wave downward movement (red) that has been ongoing since December 2024.
Waves two and four overlap while the price is in a wedge formation, so the correction is likely a leading diagonal.
If this is the case, the EOS price has started a corrective A-B-C structure, after which another downward movement is likely.
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If the count is accurate, EOS is currently in wave A of this structure. So, after a corrective wave B, which could retest the breakout level, the EOS price will likely increase again, completing wave C.
A possible target for the end of the correction is between the 0.382-0.5 Fibonacci retracement resistance levels at $0.86-$1.
This is close to the horizontal resistance area from the daily time frame, and its upper range coincides with a critical horizontal resistance.
On the other hand, falling inside the wedge will invalidate this positive EOS prediction. In that case, the EOS price would decline below $0.40 and fall to a new all-time low.
The EOS price surged on March 18 after its rebrand to Vaulta.
The wave count shows a completed five-wave decrease, so EOS has likely started a corrective relief rally that could take it between $0.80 and $1.