EOS token plunges 10% amid sell-offs – Why THIS support is key!
Vaulta was in a downtrend against USD as well as BTC, and this weakness highlighted the bearish grip on the market.
Key Takeaways
Why was the EOS token rebranded?
The EOS Network was making a bold leap into Web3 banking, and presented as an evolution of EOS bridging decentralized and traditional finance.
What is the price prediction for Vaulta?
The rebranding did little to shift the long-term downtrend. Vaulta has been losing value against BTC as well, and this weakness showed a lack of market confidence.
The EOS [EOS] token was down 9.4% in just over three days, at press time. The drawdown came alongside a Bitcoin [BTC] correction from the $116.1k local resistance level.
While Bitcoin has fallen 5% in three days, EOS has shed nearly twice that value.
It was rebranded to Vaulta [A] in March 2025. It was delisted from some exchanges while other centralized exchanges carried out a 1:1 token swap in May, after the official swap portal went live.
The Vaulta Team confirmed that there would be no changes to the tokenomics of A.
Rebranded EOS token, unchanged price trajectory
The reimagined and rebranded EOS Network token, despite its evolution, was unable to stop the long-term downtrend. The Moving Averages on the daily chart captured the steady bearish momentum of Vaulta even after the rebranding.
The trading volume picked up above its 20-day average during the market correction earlier this month. The sellers continued to dominate the market, as the OBV showed by making another lower low.
The Fibonacci extension levels showed that, below the $0.258 support, the $0.219 and $0.155 were the next price targets for the EOS token, now A.
In the short-term, the sentiment remained bearish. The long/short ratio has been under 1 over the past ten days, showing more accounts were bearishly positioned than bullish. The Funding Rate remained positive, but has receded in recent hours.
More accounts being short does not drive funding down, as Funding Rate calculation depends on the difference between perpetuals and spot pair prices. The rising spot CVD over the past 24 hours suggested a spark of hope for Vaulta.
Yet, this spark is likely to fade soon. The $0.3 level was a strong local resistance. Moreover, during the yesterday’s price dip from $0.29 to $0.2745, the Open Interest climbed higher.
This signified increased short-selling and helped explain the dip in Funding Rate.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
