Eos surged by 20% as bulls reacted to its Yield+ program. Today’s price surge comes despite the global cryptocurrency market cap falling by almost 2% as of writing. Tezos also reached a 2-month peak on the hump day, and was up by almost 2%.
EOS was one of Wednesday’s biggest movers, as prices of the token climbed by as much as 20%.
Today’s gains come three days after EOS began to accept registrations for its upcoming Yield+ incentive program.
It is an incentive program and will be sent out on the 28th of August, two weeks after registration opens.
EOS/USD reached a record high of $1.64 Wednesday as a direct result. The increase comes less than one day after the $1.28 low.
Wednesday’s high is the strongest point for the token since May 11, and comes following a breakout of a key price ceiling.
This resistance can be seen in the chart at the $1.43 mark, which is where it has been for the past three months.
Following today’s rally, the relative strength index (RSI) is now tracking at a high of 70.33, which is marginally above a ceiling of 69.
Tezos (XTZ)
In addition to EOS, tezos (XTZ) was another notable mover in today’s session, with it climbing to its highest point in over two months.
XTZ/USD raced to a high of $2.02 earlier in today’s session, which was up from Tuesday’s low of $1.82.
This mark is the highest tezos have reached since June 11, 2011, when the token traded at $2.07.
However, the market volatility increased as the session matured. XTZ fell below $1.94 resistance.
As of writing, XTZ is now trading at $1.87, which is marginally higher than yesterday’s peak.
After a breakout above the ceiling, bulls may have lost control of their positions and instead sought to gain gains, which allowed bears the opportunity to reenter.
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