EOS price prediction: can this Ethereum killer recover after the Vaulta rebrand?

EOS, once celebrated as a formidable rival to Ethereum, has experienced a notable price surge, reigniting curiosity about its potential in the ever-shifting cryptocurrency landscape.

With a current price of $0.6959 after a 3.3% rise in the last 24 hours and a 9.3% increase over the past week, can EOS reclaim its past prominence, leveraging its new identity after rebranding to Vaulta?

EOS price forecast

Over the past month, EOS has demonstrated encouraging resilience, bolstered by a 17.0% jump, hinting at a possible shift after the Vaulta rebrand.

Furthermore, the 24-hour trading volume has climbed by 12.62% to $223.84 million, pointing to heightened activity and interest among traders.

However, a 2.53% drop in derivatives open interest to $134.36 million, according to Coinglass data, suggests a degree of caution, as some traders may be hesitant to fully commit despite the upward momentum.

Technically, EOS is positioned above its 50-day moving average, a sign often interpreted as bullish by analysts monitoring short-term trends.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are also bullish on EOS.

However, its position below the 200-day moving average reveals a lingering bearish outlook for the long term, underscoring the challenges ahead.

In the derivatives market, a long/short ratio of 1.0392 reflects a mildly bullish sentiment, with top traders on platforms like Binance and OKX favouring long positions.

The rebranding to Vaulta, set for late May, shifts EOS’s focus toward Web3 banking, aiming to harness its infrastructure for innovative financial services through partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance Inc.

This strategic pivot could position Vaulta as a leader in the growing Web3 banking space, potentially drawing in fresh waves of users and investors.

The seamless 1:1 token swap from EOS to Vaulta, available across nearly 140 exchanges, ensures continuity for current holders, which may stabilise confidence and support the token’s value during this transition.

In addition, Vaulta’s newly formed Banking Advisory Council will offer expert guidance, a move that could prove vital in mastering the intricacies of Web3 finance and executing its ambitious vision.

Looking ahead, the combination of current market trends and the Vaulta rebranding suggests EOS could enjoy short-term price gains as its new direction takes shape, after the fading of the address poisoning attack that followed the rebranding.

The focus on Web3 banking services might spark increased demand for the Vaulta token, especially if it attracts developers and investors seeking exposure to this emerging sector.

Nevertheless, the cryptocurrency market’s inherent volatility looms large, and the rebranding’s success hinges on Vaulta’s ability to deliver tangible results and fulfill its promises.

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