The global cryptocurrency market capitalization currently stands at a robust $2.66 trillion. Bitcoin price is hovering around $71,000 for the first time since mid-March, while ETH is testing the upper limit of the horizontal channel at the current $3,640 price threshold.
Longtime followers of the digital asset space may also have noticed something interesting recently: the cryptocurrencies that thrived during the 2017 bull run and then faded into oblivion are making a comeback. .
NEO, often dubbed the “Chinese Ethereum,” is a prime example. The cryptocurrency has increased 33.5% in the past 24 hours, from $15.30 to $21.84. This is NEO's highest price since April 2022 and comes after a massive nearly year-long decline from $120 in May 2021 to around $13.
Today's performance marks NEO's best day since January 20, 2023, skyrocketing 40.7%. As such, this altcoin appears to have overcome its sideways performance and shown new bullish behavior. It decisively broke the resistance at EMA10 and managed to move the ADX (an indicator that measures trend strength) from a steady downtrend to the indecisive zone of the market (below 23 points). Furthermore, the Squeeze Momentum Indicator represents the possibility of a short-term bullish start as the price seems ready to change trend.
NEO price chart | Source: Tradingview
VeChain, another blockchain project that achieved success in 2017, is also performing impressively. This altcoin was launched in 2015 by former Chinese Louis Vuitton executive. The price increased 8% from $0.042 to $0.047 before correcting to the current $0.045 price.
VeChain's performance is similar to that of NEO, overcoming the resistance set by EMA10 and preventing a death cross from forming (when EMA55 crosses above EMA10). The ADX index for price adjustment is currently very weak at 19 points, signaling a possible change in market activity.
VET price chart | Source: Tradingview
EOS, created by a former founder of Ethereum, is another top performer today with a 7% price increase in the past 24 hours, moving from $1 to $1.13. Despite having the largest ICO in the crypto ecosystem, raising $4.2 billion in 2017, EOS gradually faded into oblivion during the crypto winter. Today, it has a total market capitalization of just $1.25 billion.
EOS is showing hints of an uptrend, with EMA10 above EMA55 and the gap between the two parameters widening. The coin has broken through the bearish triangle resistance with lower highs since March 2024 and has a low ADX of 16 points. The current bearish trend combined with the Squeeze Momentum Indicator shows that the price is starting to turn to an uptrend.
EOS Price Chart | Source: Tradingview
IOTA, a cryptocurrency that focuses on the Internet of Things (IoT) and has major partnerships with major brands and even governments, is also showing signs of revival. Despite losing ground in 2018 and being unable to regain its former glory, IOTA is up 4.72% today, moving from $0.30 to $0.32.
However, unlike the other cryptocurrencies analyzed, IOTA's bullish signal is not as strong. It is still in a descending triangle and the gap between EMA10 and EMA55 is narrowing, almost forming a death cross. The RSI is at exactly 50, showing a perfect balance between bulls and bears.
IOTA price chart | Source: Tradingview
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