EOS price climbs as sentiment improves following $3 million purchase by President Trump's World Liberty Financial :
EOS price rebounds from short-term support at $0.75, boosting bullish sentiment amid broader market consolidation.
President Donald Trump's World Liberty Financial purchases $3 million worth of EOS at an average price of $0.82.
Technically, EOS's upside potential remains as the RSI indicator changes direction upward.
EOS edges 9% higher, trading around $0.85 on Friday, while prices consolidate in the broader cryptocurrency market. The surge in EOS, rebranding to Vaulta to drive a Web3 banking network, comes amid improved sentiment bolstered by United States (US) President Donald Trump's World Liberty Financial buying the token.
World Liberty Financial scoops 3.636 million EOS President Trump's World Liberty Financial has sought exposure to the token, spending nearly $3 million in USDT to buy approximately 3.363 million EOS. According to SpotOnChain, the purchase was completed at an average cost of $0.82.
News of the purchase led sentiment around EOS to improve significantly, paving the way for a quick rebound following a drawdown to $0.75 from a weekly peak at $0.99, reached on Saturday. As shown on the daily chart below, a green candle is approaching the short-term resistance at $0.90, which, if broken, could encourage traders to buy EOS, anticipating potential gains beyond the $1.00 supply zone, tested last weekend and in January.
The recovery from the April low at approximately $0.58 places EOS significantly above key moving averages, ranging from the 50-day Exponential Moving Average (EMA) at around $0.72, the 100-day EMA at $0.69, to the 200-day EMA at $0.68. With the moving averages playing catch-up to EOS' price, the path with the least resistance could stay upward, boosting chances of a rally beyond the $1.00 near-term target.
The Relative Strength Index (RSI) indicator's reversal from support slightly above the midline of 50 to 58.65 reflects the growing uptrend's strength. Moreover, traders would look for a daily close above the $0.90
