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    Why is EOS up by more than 30% in the last 24 hours?


    The cryptocurrency market is popping issues round at the moment, and EOS is without doubt one of the best-performing cryptocurrencies among the many high 50 cash.

    EOS, the native coin of the EOSIO ecosystem, is the perfect performer amongst the highest 50 cryptocurrencies by market cap. EOS has added greater than 30% to its worth within the final 24 hours.

    The rally comes as EOSIO is ready for a rebrand. The EOSIO is the blockchain, and it’s set for a serious rebrand. The rebrand would additionally result in the fork of the EOS coin. According to the team, the EOS Community Basis would quickly be accountable for the EOS blockchain. 

    The rally comes because the broader cryptocurrency market is recovering from the stoop it suffered earlier this week. For the primary time this week, the cryptocurrency market is buying and selling within the inexperienced zone.

    The market has added greater than 1% to its worth over the previous 24 hours, with the overall market cap now round $1.15 trillion.

    Bitcoin continues to be buying and selling above $24k per coin, whereas Ether has surged previous the $1,900 mark once more after including greater than 2% to its worth within the final 24 hours.

    Key ranges to look at

    The EOS/USD 4-hour chart is without doubt one of the most bullish charts amongst the highest 100 cryptocurrencies by market cap.

    The MACD line is deep inside the optimistic zone, indicating that EOS is experiencing a bullish momentum in the intervening time.

    The 14-day RSI of 81 reveals that EOS is presently within the overbought area after rallying by greater 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 might commerce above the $2.059 resistance level for the primary time since Could.

    Nevertheless, EOS may wish the help of the broader crypto market to make a transfer previous the $2.488 resistance degree over the following few days.

    The put up Why is EOS up by more than 30% in the last 24 hours? appeared first on CoinJournal.

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