Former Crypto Titans return from the dead

The global crypto market cap stands at $2.68 trillion, an increase of 3.51% over the previous day. Market bellwether Bitcoin breached $71,000 for the first time since mid-March, while Ethereum is testing the upper limits of the horizontal channel at the current $3,681 level.

Long-time watchers of the digital assets space may also have noticed something interesting of late: cryptocurrencies that thrived in the 2017 bull run and then faded into obscurity are making a comeback.

NEO, often referred to as “China's Ethereum”, is a prime example. The cryptocurrency rose 33.5% in the last 24 hours, from $15.30 to $20.40. This is NEO's highest price since April 2022, and comes after a year-long crash that saw the coin drop from $120 to $13 in May 2021.

Today's performance marks NEO's best day since January 20, 2023, when NEO is up 40.7%. The coin seems to have surpassed its flat performance by showing a new aggressive behavior. It decisively breached the EMA10 resistance and ADX (an indicator that measures how strong a trend is) managed to change from a stable bearish trend to an indecisive market (below 23 points). Additionally, the Squeeze Momentum indicator suggests that a bullish trend may be imminent in the short term as the price looks set to reverse trends.

In the year VeChain, another blockchain project that gained a lot of activity in 2017, is doing amazingly well. In the year The coin, which was launched in 2015 by the former CEO of Louis Vuitton China, rose 8% today, from $0.042 to $0.047 before correcting to its current price of $0.046.

VeChain's performance mirrors that of NEO, passing the resistance set at EMA10 and preventing the formation of a death cross (when EMA55 rises above EMA10). For a bearish correction, the ADX is now very weak at 19 points, which indicates a possible change in market performance.

Created by the former founder of Ethereum, EOS is another top performer with a 7% price increase in the last 24 hours, from $1.00 to $1.10. Despite having the biggest ICO in the crypto ecosystem, raising $4.2 billion in 2017, EOS went dark in the crypto winter. Today it has a total market cap of just $1.2 billion.

EOS is showing hints of a bullish trend, with the EMA10 above the EMA55 and the gap between the two references widening. The coin has crossed the resistance of the bearish triangle, the lowest elevation since March 2024, and has a low ADX of 16 points. The current bullish trend shows a compression momentum indicator indicating that the price has started a bullish reversal.

IOTA, a cryptocurrency focused on the Internet and with major partnerships with major brands and governments, is also showing signs of life. In the year Despite losing ground in 2018 and unable to regain its former glory, IOTA has seen a 4.72% increase today, from $0.30 to $0.32.

However, as with other cryptocurrencies analyzed, IOTA's bullish signals are not that strong. It remains in a descending triangle, and the gap between EMA10 and EMA55 is closing, almost forming a death cross. RSI is exactly at 50, which indicates that there is a perfect balance between bulls and bears.

Edited by Ryan Ozawa.