Eos rose as much as 20% on Wednesday, as bulls continued to react to news of an upcoming Yield+ incentive program. Today’s price spike is despite the global cryptocurrency market size being down about 2% at the time of writing; Tezos was also higher, hitting a two-month high on Hump Day.
EOSwas one of Wednesday’s biggest movers, with token prices rising as much as 20%.
Today’s gains occurred three days afterEOSopened registration for its upcoming Yield+ incentive program.
The program is essentially a reward offering and will be distributed on August 28, exactly two weeks after registration opens.
As a result,EOS/USD surged to a peak of $1.64 on Wednesday. This was less than a day after trading at a low of $1.28.
Wednesday’s high occurred after breaking through a key price ceiling, the token’s strongest point since May 11.
The chart shows that this resistance was at the $1.43 level.
Following today’s rally, the Relative Strength Index (RSI) is at a high of 70.33, just above the ceiling of 69.
Tezos (XTZ)
plus EOS (
XTZ) also made a notable move in today’s session, rising to its highest level in over two months.
XTZ/USD rose from Tuesday’s low of $1.82 to a high of $2.02 earlier in today’s session.
This is the highest point reached by tezos since June 11, when the token was trading above $2.07.
However, as the session matured, market volatility increased, resulting inXTZfalling below $1.94 resistance at XTZhas broken below the $1.94 resistance.
At the time of writing,XTZis 79} XTZis currently trading at $1.87, which is slightly higher than yesterday’s peak.
Bulls appear to have abandoned their positions, opting to take profits after breaking through the ceiling and then giving way to bears re-entering the market.
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