$EIGEN /USDT: Testing Crucial Levels Amid a Sharp Decline

$EIGEN is currently trading at $3.663, marking a significant 10.13% drop in the last 24 hours. The coin has fallen from a 24-hour high of $4.095 to a low of $3.654, indicating heightened selling pressure. The steep decline suggests a potential profit-taking scenario or weak market sentiment. However, EIGEN is now nearing its critical support at $3.575, a level that has historically acted as a bounce zone, providing traders with a potential entry opportunity.

Should $EIGEN hold above $3.575, a recovery toward the resistance levels of $3.800 and $4.000 could be anticipated, supported by strong trading volume of over 8.13M EIGEN. On the downside, if the price breaks below $3.550, further bearish momentum could push it toward $3.400. Traders are advised to use tight stop-losses below $3.550 and watch for any bullish reversal signals to capitalize on potential upward moves.