- EOS has moved closer to its immediate resistance.
- The volume on the network has not yet caught up with the increase in TVL.
EOS [EOS] Cryptocurrencies have seen notable gains over the past 24 hours and over the past week. There has been a significant increase in the total value locked (TVL) on the network, indicating an increased level of activity.
EOS Crypto Records Daily and Weekly Gains
AMBCrypto’s analysis of the daily gainers chart on CoinMarketCap revealed that EOS The cryptocurrency has been among the best performers over the past 24 hours, growing by more than 5%.
This places it 26th among the top 30 cryptocurrencies by gains.
Additionally, EOS made its mark on the weekly gainers list, rising over 12% over the past week.
This positions it as the 29th biggest gainer of the week, highlighting its positive momentum in the cryptocurrency market.
A look at price trends
AMBCrypto’s take on EOS Cryptocurrencies on a daily time frame over the past week have shown a generally positive trend, with the token recording gains on most days.
There has been only one occurrence of a downtrend in the last eight days.
The most significant uptrend occurred on July 14, when EOS surged more than 5%, taking its price from around $0.54 to around $0.57.
At the time of writing, EOS continued to trade in the $0.57 range, showing a modest increase of less than 1%.
Source: TradingView
This series of positive moves has pushed EOS into an uptrend. The Relative Strength Index (RSI), which crossed just above the neutral line of 50, supported this trend, indicating a bullish trend, albeit a moderate one.
This RSI movement suggests that while the trend was up, it was still relatively weak and EOS may need stronger market support to sustain a stronger bull run.
TVL Sea Point
AMBCrypto’s analysis of the total value locked (TVL) in EOS, on Llama Challengerevealed a significant spike, suggesting increased activity and engagement within the ecosystem.
Specifically, between July 5 and the date of publication, TVL increased from approximately $86.3 million to over $124 million. This upward trend indicates a growing interest in staking and other TVL-related activities.
Source: DefiLlama
Read The EOS [EOS] Price forecast 2023-24
However, trading volume has not reflected this trend. At the time of writing, trading volume was around $276,000, a relatively low figure and unable to match the substantial increase in TVL.
This divergence could suggest that even if more assets are locked in the network, they do not necessarily translate into increased trading activity.