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$EIGEN 💯💰🤑

/USDT Technical Analysis Update

The EIGEN/USDT pair has been seeing significant price action recently, with a sharp decline of 16.86%, bringing the current price to $4.07. This drop comes after the pair hit a 24-hour high of $5.011 and a low of $4.066, showing a range-bound market for the past 24 hours.

Key Levels to Watch:

Support: $4.066 (recent low)

Resistance: $5.011 (24h high)

With a 24-hour trading volume of 18.88M EIGEN and 84.19M USDT, the market is active, but the overall trend has been bearish in the short term.

Technical Indicators:

Moving Average Convergence Divergence (MACD): Showing signs of bearish momentum.

Relative Strength Index (RSI): Currently at 40, indicating that the asset is not overbought or oversold but approaching the oversold region, which could lead to a potential reversal.

Volume: The relatively high volume suggests strong market participation but indicates indecision at current price levels.

Price Action: The pair is trading within a narrow range of $4.066 - $5.011. A breakout above $5.00 could signal a bullish reversal, while a break below $4.066 could push the price toward further downside targets.

Stay updated on the latest market trends and make informed trading decisions on Binance.

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