$EIGEN /USDT Signal: Potential Short-Term Dip, Watch for Support

$EIGEN /USDT has been on a downward trend over the past 24 hours, with a significant price drop of 14.38%. The current price is $4.363, and the 24-hour high and low were $5.249 and $4.138, respectively. The 24-hour trading volume for EIGEN and USDT was 21.19M and 99.08M, respectively.

Technical Analysis:

* RSI (6): The Relative Strength Index (RSI) is currently at 23.076, indicating oversold conditions. This suggests that a potential short-term reversal or bounce could occur.

* Price Action: The price has formed a bearish candle on the 4-hour chart, indicating a potential short-term decline. However, the price is near the support level of $4.138.

Trading Signals:

* Entry: Consider a short position at the current price of $4.363.

* Stop Loss: Set a stop loss at $4.620 to limit potential losses.

* Take Profit Targets:

* Target 1: $4.138

* Target 2: $4.061

* Target 3: $4.000

Caution:

* The market is highly volatile, and prices can change rapidly.

* It's important to conduct your own research and analysis before making any trading decisions.

* Always use proper risk management techniques, such as stop-loss orders, to protect your capital.

#EIGEN #USDT #CryptoTrading #BinanceAlphaAlert #TradingSignal