$EIGEN

EIGEN/USDT Technical Analysis – Infrastructure Token Shows Gradual Momentum

📊 Current Price: $5.241 (+2.36%)

📈 24h High: $5.389 | 24h Low: $4.848

💎 24h Volume: 8.83M EIGEN / $45.14M USDT

The EIGEN/USDT pair has displayed moderate upward movement with a 2.36% gain. As an infrastructure-focused token, EIGEN is gaining attention due to consistent volume and steady momentum. Let’s dive into the technical indicators to identify opportunities and set 3 potential targets 🎯.

Key Technical Indicators:

1️⃣ Parabolic SAR (Stop and Reverse):

Current SAR Value: $4.291

The price remains above the SAR, confirming the continuation of an uptrend.

2️⃣ EMA (Exponential Moving Average):

Short-term EMA suggests bullish momentum, with support visible near $4.85.

3️⃣ Bollinger Bands (BOLL):

The price is approaching the upper Bollinger Band, indicating possible resistance but also showing strength in the trend.

4️⃣ MACD (Moving Average Convergence Divergence):

MACD remains in bullish territory, with the line above the signal, suggesting sustained buying pressure.

🎯 Targets for EIGEN/USDT:

1. Target 1: $5.40 – Immediate resistance aligned with the 24h high. Breaching this could indicate further upside potential.

2. Target 2: $5.65 – A mid-term target achievable with increased volume and sustained bullish sentiment.

3. Target 3: $6.00 – A long-term target if EIGEN maintains its bullish trajectory and market conditions remain favorable.

Trading Strategy:

For Bulls:

Look for entries near $5.20-$5.25, with a stop-loss below $4.85. Take partial profits at Target 1 ($5.40) and hold for higher levels if momentum sustains.

For Bears:

Watch for rejection near $5.40-$5.50 to short the pair, targeting $4.85 on a potential pullback.

💡 Pro Tip: Monitor volume closely; a breakout above $5.40 with strong trading activity could push the price toward $6.00. Use trailing stops to secure profits in this volatile market.

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