$EIGEN will hitt 2.8$ tonight:
Whether EIGEN/USDT will hit 2.8 tonight depends on key factors, such as market momentum, volume, and broader market conditions. Here's a breakdown based on the chart:
Bullish Factors Favoring 2.8:
1. Momentum: The price has shown a recovery and is trading above short-term EMAs (e.g., EMA(7) and EMA(25)), indicating potential bullish momentum.
2. Resistance Breakout: If the price breaks 2.652 (24h high) with strong volume, it could quickly approach the 2.8 level, as there's limited resistance in between.
3. Stochastic RSI: While overbought, it can remain high in a strong uptrend, supporting a continued rise.
Bearish or Neutral Risks:
1. Resistance at 2.652: If the price fails to break this level, it might consolidate or retrace instead of rallying to 2.8.
2. Stochastic RSI Overbought: This could lead to a pullback before any further upward movement.
3. Volume: If the buying pressure diminishes, the price could stay below 2.8.
Scenario Analysis:
If 2.652 is broken convincingly with high volume, 2.8 is achievable within a few hours.
If the price fails to break above 2.652, it may stay in the 2.4–2.6 range tonight.
