$EIGEN
/USDT Technical Analysis with a Focus on Trade Strategies, key Targets and Momentum🚀🎯
Technical Analysis:
Current Price: $3.86
24h High: $4.135
24h Low: $3.348
Bollinger Bands (20, 2):
Upper Band: $3.872
Middle Band: $3.629
Lower Band: $3.385
Parabolic SAR: $3.679
Momentum:
The momentum appears slightly bearish as the price is currently closer to the upper Bollinger Band, suggesting potential resistance at $3.872. The Parabolic SAR is below the current price at $3.679, indicating potential support levels in case of a pullback. The price is still above the middle band, which can suggest consolidation or slight bullish bias, but the price action must break above the upper band to confirm a bullish move.
Trade Strategy and Targets:
Bullish Scenario (if price breaks above $3.872):
Target 1 🎯: $4.00 - Psychological resistance around $4.00 could trigger profit-taking. Watch for price rejection at this level.
Target 2 🎯: $4.10 - The upper Bollinger Band will likely act as a strong resistance near this price.
Target 3 🎯: $4.135 - The 24h high is a key resistance zone. A break above could lead to further upside toward the next resistance at $4.20.
Entry Strategy: Consider entering long positions if the price breaks above $3.872 (Upper Bollinger Band) and holds above it. Use a stop loss around $3.679 (SAR).
Bearish Scenario (if price drops below $3.679):
Target 1 🎯: $3.629 - The middle Bollinger Band could act as the first support level.
Target 2 🎯: $3.50 - A more conservative support zone based on previous price action.
Target 3 🎯: $3.348 - The 24h low and the lower Bollinger Band offer solid support in case of a strong decline.
Entry Strategy: Consider shorting if the price breaks below the Parabolic SAR at $3.679 and heads toward $3.629. Place a stop loss around $3.872 (upper Bollinger Band).
Summary:
Bullish Target Range: $3.872 → $4.00 → $4.135
Bearish Target Range: $3.679 → $3.629 → $3.348
