Technical Analysis: $EIGEN

/USDT

The EIGEN/USDT trading pair has shown some interesting price action recently. Currently trading at $2.37, it has experienced fluctuations within the 24-hour range of $2.246 to $2.370. Here’s a breakdown of the technical analysis with three targets to watch:

Key Levels to Monitor:

1. Support Level: $2.25

The recent 24h low at $2.246 indicates a crucial support zone. If the price drops below this level, we may see increased selling pressure, and the next significant support could be tested around $2.20.

2. Resistance Level: $2.40

With the 24h high at $2.370, the immediate resistance level sits at $2.40. A breakout above this level could lead to a rally towards $2.50, encouraging bullish sentiment in the market.

3. Target Level: $2.50

Should bullish momentum sustain and the price breaks above the $2.40 resistance, $2.50 will be a key target to monitor. This level aligns with a broader bullish trend, indicating a potential upward movement.

Market Overview:

24h Trading Volume:

EIGEN: 2.484 million

USDT: 10.56 million

Recent Price Action:

15m: +2.265%

1h: -2.946%

4h: 0.000%

1D: -6.541%

Conclusion:

Traders should keep a close eye on these levels as they provide critical insights into potential price movements. Monitoring volume trends and price action around these key targets will be essential for making informed trading decisions.

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