Technical Analysis: $EIGEN

/USDT

Current Price: $3.59

Recent Performance: +6.96%

As EIGEN/USDT continues to show bullish momentum, let’s explore the key technical levels and potential targets for traders.

Support and Resistance Levels:

1. Target 1: $3.740

This level represents a significant resistance point. If EIGEN can break above this target, it may signal a continuation of the upward trend. Watch for volume confirmation as it approaches this level.

2. Target 2: $3.900

The next psychological resistance is at $3.900. A breakout here could open the door for further gains. Traders should look for bullish indicators or patterns forming as EIGEN approaches this price.

3. Target 3: $4.000

Aiming for the $4.000 mark is ambitious yet feasible if the current momentum persists. This level is critical, as it aligns with a Fibonacci retracement level that could serve as a strong psychological barrier.

Moving Averages:

MA(5): $3.496

MA(10): $3.449

MA(25): $3.404

The moving averages indicate a strong upward trajectory, with the recent price above the short-term averages. This supports the bullish outlook.

Conclusion

As the market unfolds, keep these target levels in mind for potential trading strategies. Monitor volume and market sentiment closely, as they will be key indicators of price action. Happy trading!