On Tuesday, March 18th, the crypto market recorded a slight downtick as Bitcoin reverted from $85,000. Defying the broader market correction, the ESO price stands at a 4% intraday surge, following the recent rebranding announcement to Vaulta. Will the renewed recovery push this altcoin to $1 high?
Key Highlights:
- EOS rebrands to Vaulta, enhancing its Web3 banking vision, with a token swap planned for May 2025.
- The EOS price is 22% short of a major breakdown from $0.67.
- The $0.67 level, backed by the 200-day Exponential Moving Average creates a strong resistance zone.
EOS Market Correction Intensifies as Rebrand to Vaulta Approaches
According to a recent report, the 3rd generation Layer 1 blockchain EOS has announced its plans to rebrand to Vaulta. The transformation will include a token swap, which is currently scheduled for the end of May 2025, but is subject to change and further confirmation
This strategic shift aims to advance EOS Network’s vision of Web3 banking, building a more scalable and inclusive financial ecosystem. The rebranding culminates years of planning and development focused on integrating Web3 technology with traditional financial systems to unlock the potential of decentralized technologies, including Bitcoin and other cryptocurrencies.
This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone. Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach. Web3 has the potential to reshape global finance and Vaulta is at the forefront of this evolution” said Yves La Rose, Founder and CEO of Vaulta Foundation, commented.
The rebrand will also introduce the Vaulta Banking Advisory Council, comprising a team of banking and Web3 experts. Following the announcement, the EOS price surged 3.16% to trade at $0.51, while its market cap climbed $799 Million.
The development could have a slow yet sustained recovery in ENA price, potentially driving demand pressure.
EOS Price Nearing A Major Breakout
Contrary to broader market uncertainty, the EOS price bounced from $0.42 to $0.54 current trading value, registering a weekly gain of 15%. This price jump teases a bullish breakout from the 20-day EMA slope, after two months of dynamic resistance, signaling an initial change in market sentiment.
If the daily candle closes above the EMA slope, the buyers could drive a 25% surge to challenge the $0.68 resistance, which coincides closely with the 200-day EMA. A bullish breakout from this resistance is crucial for buyers to regain $1 mark.
Conversely, if the ongoing relief rally in the EOS coin witnessed renewed selling pressure at $0.68, the sellers could pull a major downturn to $0.4 support.
Also Read: Dogecoin Price Targets $0.20 as Wallet Activity Soars to Multi-Month High
