The post Crypto Gainers Today: Zcash (ZEC), EOS, And Cronos (CRO) Rally – What’s Driving The Surge? appeared first on Coinpedia Fintech News
The cryptocurrency marketplace appears to be experiencing an increase in bullishness, as Bitcoin (BTC) remains in the lead at $85,148.35 (+0.97 percent), while Ethereum (ETH) is relatively flat at $1,881.97. The sentiment is generally positive with major cryptocurrencies showing resilience with increased trading volume and favorable technical indicators.
Among the top gainers, Zcash (ZEC), EOS, and Cronos (CRO) are notable for their significant price appreciation. Each of these cryptocurrencies has benefited from strong momentum after breaking key resistance levels, as well as any market-specific influences that focused attention away from BTC, and they remain interesting from the perspective of further price appreciation.
EOS Price Surges 14% on Vaulta Rebrand and Staking Incentives. The price of EOS is currently experiencing a bullish breakout, having appreciated approximately 19.35% over the previous 24 hours. EOS is currently trading at approximately $0.8002.
The increase can be attributed to the price breaking through some key levels of resistance, representing renewed interest in the market. The combination of the 50 EMA and MACD indicator as well as the current Bollinger Bands analysis, suggests the upward price action could continue unless there are notable retracements.
Why is EOS Pumping?:
Today’s EOS rally is driven by three main catalysts.
First, the forthcoming Vaulta rebranding: EOS will rebrand to Vaulta, a bank on the blockchain, by May 2025, supporting exSat and a new ticker.
Second, anticipated high-yield staking: the expected yield for staking the Vaulta token is 17%, which is a much better yield than Ethereum (2.03%) or Solana (5.14%). Vaulta will have a 250M token reward pool, as well.
Third, increased anticipation of the futures market: EOS’s futures open interest is up 30%, with an 11-month open interest high of 144.14 million! The funding rate is positive, demonstrating trader anticipation.
EOS Breaks Out Above Key Resistance – Is $1.00 the Next Target?
- EOS has clearly surpassed the 50-day EMA at $0.60, suggesting a strong change of market sentiment from bearish to bullish in EOS.
- A successful close of a daily candle above this level confirms a potential trend reversal and the subsequent upward price movement.
- In the last 24 hours alone, EOS has jumped up 19.35% to $0.8002 with a notable increase in volume to $581.26 million (+40.11%).
- EOS is now clearly above the middle Bollinger Band at $0.725 and is currently testing the upper band at $0.790. A daily close above $0.790 could push price action towards the price levels of $0.85 and $0.90; however, if the price gets rejected at this level, expect a retest of the price level at $0.725.
- A +2 Keltner Channel Long Entry signal is triggered at $0.750, so expect consistently strong bullish momentum. The upper Keltner band at $0.805 is the next clear leg level—if a break occurs, then EOS could see price action towards $0.88-$0.90.
- We see there is resistance at the $0.805 level, and if we can break this level, EOS appears to be pushing towards $0.88 and in the future $1.00. If price breaks the $0.725 level of support, then expect price to touch the level of $0.680.
Cronos (CRO) Surges as Buying Momentum Builds – Eyes $0.12 Target
Cronos (CRO) is currently trading at $0.1064 following a steady increase of 6.87% in the previous 24 hours and has a trading volume in the last 24 hours of $68.61 million, or a 97.10% increase in trading activity from the day before.
CRO is nearing critical resistance near $0.1187 (upper Donchian Channel Band), with immediate support at the middle band near $0.1044. $0.0781 is the critical downside level, where a breakdown below may suggest a lower resistance mean at the lower band. A breakout above the key resistance mean of $0.1187 could move CRO towards $0.125 – $0.130. Conversely, a failure to break the key resistance may suggest a pullback to the $0.0781 area.
Bollinger Bands indicate increasing volatility in CRO with a close proximity to the upper band (currently at $0.1137). The middle band is currently near $0.0919, demonstrating support. The lower band shows around $0.0700, which indicates the potential weakness of the trend.
The MACD indicator is indicative of bullish momentum in CRO, with the MACD line currently at 0.0054 and above the signal line currently at 0.0037, with positively incrementing histogram bars.
The RSI (momentum indicator) currently indicates neutral to bullish momentum (around 55-60). Above 70 typically indicates overbought momentum. Below 50 typically indicates weakness in the trend.
Consolidation expected from CRO from $0.1044 to $0.1113 with breaking above $0.1187 for a close confirming bullish continuation and rejection back down and retest lower support levels.”
“CRO after opening bearish in 2025 is down 32.59%, which indicates the market’s cautious sentiment. Seasonality of the past shows CRO has potential bullish momentum to start to build in Q4, specifically August and Oct, as indicated by the massive move upward in 2023 with CRO achieving 635.15% in Q4 2023. August has a pattern of volatility as well, a 35.15% gain in 2023 and -32.09 in 2024, which justifies the need for observing seasonality of market prices. If the trend continues, will CRO see a bounce back later in 2025? Traders should monitor key price levels of support and resistance for confirmation that a reversal from bullish to bearish is in play.”
CRO’s Breakout or Reversal: What’s Next?
“Cronos (CRO) has bullish price movement due to increased volume, MACD, and neutral to bullish RSI levels. If CRO can successfully breakout above $0.1187 a near-term target of around $0.125 – $0.130 while maintaining the overall bullish trend can be observed, as well as a range if it must maintain above this resistance of confidence currently above the mentioned price point. Anything not repelling or sustaining bullish price trends will provide sellers with selling pressure that could break critical decision levels of support, resulting ina pullback to $0.1044 or selling momentum towards lows at $0.0781 or below. Traders should watch for conviction in a breakout or rejection to make the next trade.
Zcash (ZEC) Price Forecast: Breakout Above $45 or Rejection Ahead?
Zcash (ZEC) is presently priced at $40.85, marking a gain of 3.97% through the last 24 hours, with a 24-hour volume of trading at $79.35 million, a 19.19% increase from the previous day.
The price is approaching a major resistance at $45, while immediate support is at around $38. If the price can break out of resistance at $45, ZEC could move towards $50 – $55. If it does not break through, a pullback towards $36 – $38 would be expected.
The Bollinger Bands also indicate increasing volatility, with price currently hovering near the upper band. The middle band is at $38 and is acting as dynamic support. The lower band is at $33, and that is the critical downside level. A sustained breakout above the upper band would confirm bullish continuation.
The Fibonacci retracement levels show support at $37.50 (38.2%), $36 (50%) and $34.50 (61.8%). A breakout above $45 could lead to ZEC testing the 1.618 extension level at $52 – $55. Currently, the price is in a range between $38 – $45, and a decisive close above $45 will confirm bullish continuation.
But a rejection may see the price retesting the lower support level. Traders should closely monitor the Fibonacci levels and the Bollinger Bands, along with key support and resistance zones, to confirm this rally’s sustainability.
According to the MACD indicator, we can see bullish momentum as the MACD line is spotted at 0.88 level, which also is above the signal line at 0.70 level; the histogram bars are in the positive region; the RSI number is 65.28, suggesting strong bullish momentum; if it breaks above 70 number then it indicates overbought market condition; a drop below 60 number could weaken the trend.
Zcash is showing signs of a strong bullish trend supported by important technical indicators and growing interest from the market. If the price manages to break above the $45 resistance level, then ZEC should be above $50/$55 level.
If it fails to maintain momentum above these key resistance levels, it could move back toward the $36-$38 level. Traders should pay attention to the Fibonacci levels, Bollinger Bands and the overall market sentiment when it comes to this uptrend’s sustainability.
