Technical Analysis and Trade Signals for $EIGEN

/USDT🚀🎯

Current Price: 2.455 USDT

24h High: 2.714

24h Low: 2.349

Key Indicators:

Bollinger Bands (20, 2):

Upper Band: 2.490

Middle Band: 2.457

Lower Band: 2.424

Parabolic SAR: 2.415

Analysis:

1. Bollinger Bands: The price is trading near the middle band (2.457), which indicates a neutral stance. A breakout above the upper band (2.490) would signal potential bullish momentum, while a drop below the lower band (2.424) could suggest bearish momentum.

2. Parabolic SAR: The SAR value at 2.415 is slightly below the current price, indicating potential support, but it is not yet signaling a strong bullish trend.

Momentum:

Short-term Momentum: Bearish with the recent price decline. However, the price is near support levels (Bollinger lower band and Parabolic SAR). If support holds, a bounce is possible.

Medium-term Momentum: The downtrend over the past week and month suggests caution. However, if the price breaks above 2.490, bullish momentum may follow.

Trade Signals & Target Levels:

Target Levels:

1. Target 1: 2.490 (Resistance Zone)

A breakout above this level would suggest a bullish move towards the upper Bollinger Band. The price could test the 2.514–2.550 zone, depending on momentum.

2. Target 2: 2.350 (Support Zone)

If the price fails to hold above the middle band or drops below the Parabolic SAR (2.415), a move toward 2.350 could be expected as the next key support level.

3. Target 3: 2.250 (Further Support Zone)

A deeper retracement below 2.350 might push the price toward 2.250. This level corresponds with historical support areas and is a critical point for potential buyers to step in.

Trading Strategy:

Buy Signal: If the price breaks and holds above 2.490, consider entering long positions with targets at 2.514 and 2.550.

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