The cryptocurrency market is changing things up today, and EOS is one of the best performing cryptocurrencies among the top 50 coins.
EOS, the native coin of the EOSIO ecosystem, is the best performer among the top 50 cryptocurrencies by market cap. EOS has increased its value by over 30% in the last 24 hours.
The rally comes as EOSIO is ready for a rebrand. EOSIO is blockchain, and it is ready for a major rebrand. The rebrand will also lead to the fork of the EOS coin. according to teamThe EOS Network Foundation will soon be in charge of the EOS blockchain.
The rally comes as the broader cryptocurrency market is recovering from the downturn that struck earlier this week. The cryptocurrency market is trading in the green zone for the first time this week.
The market has increased its value by more than 1% in the past 24 hours, with a total market capitalization of about $1.15 trillion now.
Bitcoin is still trading above $24k per coin, while Ether has again crossed the $1,900 mark after increasing its value by over 2% in the last 24 hours.
prime level to watch
The EOS/USD 4-hour chart is one of the fastest charts among the top 100 cryptocurrencies by market cap.
The MACD line is deep inside the positive zone, which indicates that EOS is currently experiencing a bullish trend.
The 14-day RSI of 81 shows that EOS is currently in overbought territory after rallying over 40% over the past seven days.
As of press time, EOS is trading at $1.620 per coin. If the rally continues, EOS could trade above the $2.059 resistance for the first time since May.
However, EOS may require the support of the broader crypto market to move above the $2.488 resistance level in the next few days.
Post Why is EOS up over 30% in the last 24 hours? Appeared first on CoinJournal.