$EIGEN /USDT Technical Analysis and Targets

📉 Current Price: $3.754 (-6.69%)

📈 Timeframe: 30m

$EIGEN /USDT is exhibiting a clear bearish trend, trading near its 24-hour low of $3.700. The asset has dropped significantly from its 24-hour high of $4.487, with key levels in sight for potential reversal or continuation.

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Targets Identified:

1. Immediate Support: $3.70

This level is the current 24-hour low and a strong support zone. A breakdown here could lead to a further decline toward $3.50.

2. Resistance Level 1: $3.90

A recovery may face resistance around $3.90, which previously acted as a support zone. Breaking above this would be crucial to reverse the short-term trend.

3. Major Resistance: $4.10

A move above $4.10 would indicate renewed buying momentum and potentially signal a trend reversal.

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Trading Suggestions:

Short-Term: Look for entries near $3.70 with tight stop-losses below $3.68. Target $3.90 for a potential short-term bounce.

Mid-Term: Secure partial profits at $3.90 and observe momentum for a possible continuation toward $4.10.

Long-Term: A breakout above $4.10 could lead to further upside toward $4.30 and beyond.

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💡 Pro Tip: Pay attention to volume changes at $3.70 and $3.90 for confirmation of potential reversals or breakouts. Employ trailing stop-losses to lock in profits during volatile movements.

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